AML / KYC

AML / KYC

SEBI Seeks Details on UBOs of Chinese, Hong Kong FPIs

By Editors | 16/04/2020

Prompted by the PBOC raising its stake in HDFC to over 1%, SEBI is reportedly concerned that Indian companies may face takeover threats from Chinese investors.

AML / KYC

US Returns $300m of Misappropriated 1MDB Funds to Malaysia

By Editors | 15/04/2020

The funds includes proceeds from assets that Malaysia financier Jho Low allegedly bought with stolen 1MDB money before his $700mn forfeit last year.

AML / KYC

CBIRC Simplifies Administrative Licensing for Trust Companies

By Editors | 15/04/2020

The licensing rules reflect the cancellation of a $1bn asset threshold previously required of foreign financial institutions that invest in domestic trust companies.

AML / KYC

Westpac Expects to Pay A$900m Over AML Breaches

By Editors | 14/04/2020

While the bank expects to make a provision of A$900mn over AUSTRAC’s claim, it says the actual penalty may be materially higher or lower than this amount.

AML / KYC

The Latest Thinking On Beneficial Ownership, Power And Control

By Bureau van Dijk | 13/04/2020

Data is the first line of defence when it comes to protecting one’s business from links to wrongdoing.

AML / KYC

FATF Grants Pakistan More Time to Address AML/CFT Deficiencies

By Editors | 12/04/2020

Pakistan will now have to submit its progress report in August instead of April, and the FATF review scheduled for June will instead take place in October.

AML / KYC

MAS, ABS Push Greater Adoption of Digital Financial Services

By Editors | 10/04/2020

The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.

AML / KYC

FSB Publishes Stage 1 Report on Enhancing Cross-Border Payments

By Editors | 09/04/2020

New technologies have the potential to facilitate fast, low cost, transparent and scalable payments, but should be accompanied by measures to address all relevant risks.

AML / KYC

HSBC Reports Possible AML Breaches at Australian Subsidiary

By Editors | 08/04/2020

Where appropriate, provisions have been made against possible penalties for underreporting of cross-border transactions and other investigations, reviews and inquiries that may involve the bank.