AML / KYC

    AML / KYC

    SEBI Panel Proposes Tighter Norms for Related Party Transactions

    By Editors | 29/01/2020

    Any member of the promoter group would be deemed a related party regardless of shareholding. Any shareholder with more than 20% of a listed company’s shares would also be deemed a related party.

    AML / KYC

    Sanctions Screening Short Cuts Not Worth the Risk: Refinitiv

    By Manesh Samtani | 29/01/2020

    Increasingly aggressive US sanctions policies highlight the need for financial institutions to adopt and implement a sophisticated risk-based approach to compliance.

    AML / KYC

    Singapore’s Payment Services Act Comes Into Force

    By Manesh Samtani | 28/01/2020

    The PS Act gives MAS formal supervisory powers over technology, cybersecurity and AML/CFT controls at payment services firms, including cryptocurrency and e-wallet companies.

    AML / KYC

    SEBI to Augment Social Media Monitoring to Fight Manipulation

    By Editors | 24/01/2020

    SEBI is working on a ‘data lake’ project that will use AI, machine learning and NLP tech to analyse unstructured data and augment market surveillance.

    AML / KYC

    China Issues Guidelines on Facial Recognition Enabled Payments

    By Editors | 23/01/2020

    The guidelines set out principles for the use of facial recognition technology in payments, covering user consent and the collection, storage and use of facial data.

    Fintech / Regtech

    What FATF Recommendation 16 Means for the Crypto Industry

    By Michael Ou | 22/01/2020

    Implementing strict KYC processes to comply with the ‘travel rule’ may be costly, but it is a necessary sacrifice to build a stronger industry in the long-run, says Michael Ou at CoolBitX.

    AML / KYC

    Fighting Modern Slavery: What the Banking Sector Can Do to Help

    By Matt Friedman | 17/01/2020

    Many banks are retooling to include modern slavery as one of the issues they track within their existing AML protocols, says Matt Friedman, CEO of The Mekong Club.

    AML / KYC

    MAS Publishes Responses to VCC Consultation Papers

    By Editors | 16/01/2020

    VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.

    AML / KYC

    Singapore Convicts a Second National for Terrorism Financing

    By Editors | 15/01/2020

    Imran Kassim became the first Singapore national to be charged for terrorism financing last April, but is the second to be convicted and sentenced.

    AML / KYC

    Bangladesh Introduces e-KYC for All Financial Services Firms

    By Editors | 13/01/2020

    All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

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