AML / KYC

AML / KYC

FMA Monitoring Report Reveals Multiple AML/CFT Deficiencies

By Editors | 02/04/2019

New Zealand’s Financial Markets Authority has released a report highlighting failures in reporting entities’ AML/CFT programmes, risk assessments and customer due diligence.

AML / KYC

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

AML / KYC

Indonesia Simplifies Stock Account Opening Process

By Editors | 01/04/2019

A new simplification programme for opening stock accounts in Indonesia should cut processing times to as little as 30 minutes, from about two weeks previously.

AML / KYC

Malaysia Mulls Cash Transaction Limit as AML Measure

By Editors | 01/04/2019

Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

AML / KYC

Philippines to Launch Digital Banking ID Registry This Year

By Editors | 31/03/2019

The blockchain powered ID registry will enable electronic KYC and make it easier for clients to access banking services.

AML / KYC

HKEX Offers Listing Applicants Guidance on Sanctions Risk

By Stephen Peepels | 26/03/2019

International law firm Hogan Lovells says the HKEX guidance provides significant insight into how it will consider international trade and sanctions issues in the context of IPO transactions.

AML / KYC

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

By Manesh Samtani | 20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

AML / KYC

BCBS Sets Out Minimum Expectations for Banks Exposed to Crypto

By Editors | 18/03/2019

The minimum prudential expectations for banks exposed to crypto-assets relate to due diligence, governance and risk management, public disclosure and supervisory dialogue.

AML / KYC

Securities Commission Malaysia Issues Show-cause Notice to Goldman

By Editors | 15/03/2019

Malaysia’s securities regulator has reportedly issued a show-cause notice to Goldman Sachs, assumed to be in connection with the multi-billion dollar 1MDB scandal.