AML / KYC

AML / KYC

Taiwan Financial Firms Call for KYC Rule Changes

By Editors | 04/07/2020

Taiwanese financial firms are asking the FSC to allow identity authentication methods other than the unwieldy government-issued Citizen Digital Certificates.

AML / KYC

Economic Downturn Presents Opportunities for Corporate Fraud

By Chris Fordham | 03/07/2020

Drawing from the Fraud Triangle Theory, Alvarez & Marsal’s Chris Fordham discusses how the current crisis has created a perfect storm for fraud and misconduct.

AML / KYC

Automatic Exchange Uncovers €10tr in Offshore Accounts in 2019

By Editors | 02/07/2020

The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.

AML / KYC

BCBS Updates AML Guidance to Advance Supervisory Cooperation

By Editors | 02/07/2020

Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.

AML / KYC

New FATF President Presents Objectives For Two-Year Term

By Editors | 01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.

AML / KYC

BNM e-KYC Policy for Customer Onboarding Takes Effect

By Editors | 30/06/2020

Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.

AML / KYC

FATF Progresses Key Initiatives at June 2020 Plenary

By Editors | 30/06/2020

The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

AML / KYC

National Security Legislation Promulgates in Hong Kong

By Editors | 30/06/2020

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.

AML / KYC

UPDATED – Wirecard Fraud: A Timeline of Events

By Editors | 30/06/2020

Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.