AML / KYC

AML / KYC

SEBI’s Meets Opposition from Global Funds on KYC Requirements

By Editors | 12/03/2019

Global asset managers have opposed SEBI’s plan to create a centralised database of beneficial owners of foreign portfolio investors.

AML / KYC

Bank of Ayudhya Uses Facial Recognition in Account Opening

By Editors | 12/03/2019

Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.

AML / KYC

APRA, AUSTRAC to Engage Regtechs on Solution Development

By Editors | 08/03/2019

APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.

AML / KYC

FATF Gets Tough on Virtual Assets and Their Service Providers

By ComplyAdvantage | 27/02/2019

If the FATF Interpretive Note is adopted, virtual assets and their service providers could fall under the same level of regulatory scrutiny as seen in traditional banking, says ComplyAdvantage.

AML / KYC

RBI Extends KYC Compliance Deadline for e-Wallet Firms

By Editors | 27/02/2019

Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.

AML / KYC

FATF Consults on Risk-Based Approach for Professional Services

By Editors | 27/02/2019

The FATF is consulting on draft guidance on the application of a risk-based approach to AML/CFT in the legal, accountancy, and trust and company service providers sectors.

AML / KYC

FATF Commends China, Sri Lanka; Watchlists Cambodia

By Manesh Samtani | 26/02/2019

The Financial Action Task Force has marked the end of its fourth round of mutual evaluations with an announcement of its latest plenary session last week.

AML / KYC

AUSTRAC Trials Reporting Automation through Smart Contracts

By Editors | 26/02/2019

The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

AML / KYC

China Strengthens AML/CFT Regime with New Guidance

By Editors | 22/02/2019

CBIRC has released guidance to help financial institutions improve AML/CFT controls, on the heels of recent news that PBOC is scrapping its approval process for corporate accounts.