AML / KYC

AML / KYC

MAS Chief Cites Technology as Top Regulatory Priority

By Samuel Riding | 24/04/2017

Ravi Menon cites banks exit from some market segments, but says costs not sufficient reason for regulatory rollback.

AML / KYC

S.Korea Regulator to Focus on ‘Ex-post’ Supervision

By Samuel Riding | 21/04/2017

Governor tells foreign firms FSS will shift from ‘punitive and ex-ante supervision’ in ‘the Age of VUCA’.

AML / KYC

Pakistan Board of Revenue Eyes Removal of Bank Tax Breaks

By Samuel Riding | 21/04/2017

Agency is also considering stiffer rules on banks’ provision of taxpayer information.

AML / KYC

Chinese Bank Exec in Alleged $436mn Fraud

By Samuel Riding | 19/04/2017

Fraud involved fake bank acceptance bills and ‘recycled’ wealth management products.

AML / KYC

Indian Central Bank to Set up Cyber-Emergency Team

By Samuel Riding | 19/04/2017

Recent ‘ethical hack’ found cybersecurity weaknesses at two public sector banks.

AML / KYC

Philippines to Introduce ‘Basic’ Banking

By Samuel Riding | 18/04/2017

Accounts will have easier KYC and low balance requirements in bid to boost financial inclusion.

AML / KYC

India Eyes Virtual Currency Regulation

By Samuel Riding | 13/04/2017

Committee launched 2 months after central bank reminder that all VC platforms are unlicensed.

AML / KYC

FSB Kicks Off ‘Unintended Consequences’ Consultation

By Samuel Riding | 12/04/2017

Board says consultation will result in fine tuning rather than a rollback of post-crisis reform.

AML / KYC

HKMA Ticks off, Fines Coutts for AML Failings

By Samuel Riding | 12/04/2017

Firm said to have inadequate PEP identification procedures for more than three years.