AML / KYC

AML / KYC

The New Cold War Is Financial

By Tom Keatinge | 29/09/2020

Banks and financial infrastructure are emerging as an expanding front in geopolitics, writes RUSI’s Tom Keatinge.

AML / KYC

Crypto Industry Responds to FATF Red Flag Report

By Nathan Smale | 28/09/2020

New guidance from the FATF has been welcomed by the crypto industry, despite the compliance challenges it presents, writes Nathan Smale at Emfarsis.

AML / KYC

Gaming Out Sanctions Risk

By Eric A. Sohn | 27/09/2020

Sanctions specialist Eric Sohn explains how wargaming exercises can be used as a risk management tool to game out threats and enhance strategic planning.

AML / KYC

Stockbrokers’ Association Pushes Back Against AUSTRAC Proposal

By Manesh Samtani | 25/09/2020

AUSTRAC proposed in July to allow brokers to open accounts for new clients with flexibility to complete the customer identification procedure within five days.

AML / KYC

HKMA Issues Guidance on Remote Onboarding of Corporate Clients

By Editors | 25/09/2020

Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.

AML / KYC

Westpac, AUSTRAC Agree A$1.3bn Penalty for AML Breaches

By Manesh Samtani | 24/09/2020

If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.

AML / KYC

Westpac, AUSTRAC Close to Settlement Over AML Breaches

By Editors | 24/09/2020

The final penalty amount, which could reach as high as A$1.5bn, is expected to be announced at a joint press conference in coming days.

AML / KYC

FinCEN Files: Philippine Money Remitters Named in SARs

By Manesh Samtani | 23/09/2020

Philrem and Werquick used local banks to wire funds for unidentified customers without identifying source of funds, the true beneficiary, or the purpose of the transactions.

AML / KYC

Sri Lanka: CSE Enables Digital ID Verification for Account Opening

By Duruthu E Chandrasekera | 22/09/2020

The CSE and Central Depository System can digitally verify national ID card details against information held by the Department for Registration of Persons.