AML / KYC

AML / KYC

Sri Lanka Affirms Commitment to Preventing Financial Crime

By Editors | 23/04/2018

As the country looks to increase grass-roots access to finance, it will require greater engagement with the international financial community, requiring greater focus on preventing financial crime.

AML / KYC

Banks Should Implement Wolfsberg KYC Initiative – MAS

By JP Reimann | 23/04/2018

MAS urges Singaporean banks to incorporate Wolfsberg due diligence questionnaire in risk assessment processes relating to correspondent banking relationships.

AML / KYC

Taiwan to Release AML Crypto Regulations This Year

By JP Reimann | 23/04/2018

Cryptocurrencies to be regulated under new AML rules before a bilateral AML evaluation by APG in November; banks ordered to label crypto exchange accounts as ‘high risk’.

AML / KYC

Self-Regulatory Framework Proposed for Korea’s Crypto Exchanges

By JP Reimann | 19/04/2018

Framework proposed by Korean Blockchain Association proposes includes $1.8mn minimum equity capital, five year storage of transaction records , ethical charter to prevent insider trading.

AML / KYC

Philippines Targets Retail Finance Digitalisation

By Garima Chitkara | 19/04/2018

BSP governor laid out the central bank’s regulatory priorities in fintech and regtech while revealing regulation around AML/KYC requirements and mitigating the risks surrounding data security.

AML / KYC

HK Banks Introducing Biometrics Expected to Comply With IT Upgrade Guidelines

By JP Reimann | 17/04/2018

Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.

AML / KYC

Outsourcing Compliance and Cybersecurity is Increasingly Risky Business

By Peter Guy | 16/04/2018

Recent FCA case highlights cost of mismanaged outsourcing. Potential IT problems are brewing for private equity GPs too as big deals systemically overlap banking system.

AML / KYC

India Issues New Beneficial Ownership, KYC Norms for Foreign Investors

By Garima Chitkara | 12/04/2018

Indian securities regulator specifies a narrow definition and identification of beneficial ownership for foreign investors into India and establishes new KYC norms.

AML / KYC

S.Korea Probes Banks’ Cryptocurrency AML Polices

By Editors | 12/04/2018

Financial Services Commission to conduct on-site expectations of three banks with cryptocurrency account relationships.