AML / KYC

    AML / KYC

    PBOC Fines Three FIs, 24 Officers for AML Compliance Failures

    By Editors | 18/02/2020

    China Minsheng Bank, China Everbright Bank and Huatai Securities have been fined a combined 52mn yuan for failures in customer identification, transaction reporting and record keeping.

    AML / KYC

    OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report

    By Editors | 14/02/2020

    In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.

    AML / KYC

    Malaysia Anti-Corruption Commission Files New 1MDB-related Charges

    By Editors | 13/02/2020

    Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.

    AML / KYC

    Technology Building Blocks that Enable Real-Time KYC

    By Greg Watson | 11/02/2020

    Every financial institution has a digital transformation agenda. But what does that really mean? In this post, we look at the why, and more importantly, the how of pursuing a Digital KYC model.

    AML / KYC

    SFC Fines BMI Securities, Suspends RO for AML Breaches

    By Editors | 11/02/2020

    The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.

    AML / KYC

    Liar’s Poker – The 1MDB Version

    By Peter Guy | 11/02/2020

    1MDB sorely tested principles-based regulation and compliance at Goldman Sachs. But, the bank was likely set up as a victim from the very beginning, says Peter Guy.

    AML / KYC

    US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

    By Editors | 10/02/2020

    The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.

    AML / KYC

    RUSI-ACAMS Survey Reveals Proliferation Finance Implementation Gaps

    By Manesh Samtani | 08/02/2020

    A global survey of sanctions professionals reveals a lack of industry awareness of proliferation finance risks, and a lack of focus on this area in compliance programmes.

    AML / KYC

    Between a Rock and a Hard Place: FATF Faces an Iranian Crunch

    By Tom Keatinge | 07/02/2020

    A well-intentioned decision on Iran in 2016 has haunted FATF ever since. That decision is about to become a nightmare, says RUSI’s Tom Keatinge.

    AML / KYC

    EBA Consults on Revised ML/TF Risk Factors Guidelines

    By Editors | 07/02/2020

    The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.

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