AML / KYC

AML / KYC

New KYC Norms a Turn-off for India’s Mobile Wallet Users

By Garima Chitkara | 22/02/2018

Less than half of wallet consumers opted to be KYC-compliant before the 28 February deadline; new KYC norms will force telecom firms to verify customer data using third-parties, taking away their current advantage over other payment firms.

AML / KYC

Border Cash Declarations Won’t Halt HK Money Laundering

By Peter Guy | 19/02/2018

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

AML / KYC

Europe’s Latest AML Directive a Huge Challenge for Asian Operations

By Bradley Maclean | 14/02/2018

4th AMLD to prove a headache for Asian institutions which already share clients and data with EU-based subsidiaries, potentially influencing Asia-based parent institutions themselves.

AML / KYC

Australia Details Regulatory Framework for Open Banking

By Manesh Samtani | 13/02/2018

The government has unveiled its final report on its review on open banking, detailing 50 recommendations on implementing the new data-sharing regime.

AML / KYC

IMF, ADB, Aus, NZ Seek Lower Cost Remittances for the Pacific

By Editors | 11/02/2018

Possible solutions include enhancing AML/CFT controls at banks, promoting best practices at money transfer operators, improving information sharing by supervisory authorities.

AML / KYC

MAS Encourages Fintech Use for KYC, AML Checks

By Garima Chitkara | 08/02/2018

Monetary Authority of Singapore says technology-based customer due diligence could increase the quality of risk management for financial institutions.

AML / KYC

Hong Kong Includes Non-Financial Entities in AML/CTF Amendments

By Garima Chitkara | 08/02/2018

Hong Kong AML/CTF rules will apply to financial transactions by non-financial entities; SFC requires licensees to screen client lists.

Fintech / Regtech

Cryptocurrency – You Can’t Kill an Idea

By Peter Guy | 05/02/2018

Once in a while capitalism must be rescued from the excesses of bankers and central banks. Governments can’t kill ideas, but it takes them a long time for them to concede or adapt.

AML / KYC

Interpol to Increase Measures on Cryptocurrencies AML, CTF Risk

By Samuel Riding | 01/02/2018

Global police organisation says to increase information sharing, review AML/CTF rules pertaining to digital currencies, take action against cryptocurrency ‘tumblers’.