AML / KYC

    AML / KYC

    India Establishes High Level Panel on AML/CFT

    By Editors | 08/10/2019

    The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.

    AML / KYC

    Thailand Cabinet Approves Draft AML Regulations

    By Editors | 08/10/2019

    Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.

    AML / KYC

    APG Publishes Final Mutual Evaluation Report for Taiwan

    By Editors | 03/10/2019

    Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.

    AML / KYC

    AUSTRAC Orders AML/CTF Audit at PayPal Australia

    By Editors | 24/09/2019

    AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.

    AML / KYC

    Taiwan Seeks Significantly Higher Penalties for Tax Evasion

    By Editors | 24/09/2019

    Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.

    AML / KYC

    Singapore Charges Second National for Terrorism Financing

    By Editors | 19/09/2019

    A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.

    AML / KYC

    UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate

    By Editors | 18/09/2019

    The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.

    AML / KYC

    RBI Orders Banks to Review Controls on Internal Accounts

    By Editors | 16/09/2019

    Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.

    AML / KYC

    Financial Institutions Must Adapt and Innovate or Be Left Behind

    By Greg Watson | 13/09/2019

    Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey.

    AML / KYC

    AUSTRAC Order A$250,000 Fine Against Compass Global Holdings

    By Editors | 11/09/2019

    AUSTRAC says Compass Global Holdings failed to report international funds transfers between 2018 and 2019.

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