AML / KYC

AML / KYC

Interpol to Increase Measures on Cryptocurrencies AML, CTF Risk

By Samuel Riding | 01/02/2018

Global police organisation says to increase information sharing, review AML/CTF rules pertaining to digital currencies, take action against cryptocurrency ‘tumblers’.

AML / KYC

S. Korea Probes Illegal Forex Transactions Using Cryptocurrency

By Manesh Samtani | 01/02/2018

Korea Customs Service alleges KRW637.5 bn of foreign exchange crimes, including the use of cryptocurrency to conduct forex transactions, foreign remittances, illegal smuggling.

Fintech / Regtech

Decentralised Crypto Exchanges Could Render Regulatory Efforts Meaningless

By Bradley Maclean | 29/01/2018

Global regulators and institutions need to work together to develop globally harmonised standards, rather than the onerous regulatory frameworks proposed […]

AML / KYC

SFC Identifies Product Selling Compliance Failures 

By Samuel Riding | 28/01/2018

Licensed corporations should ensure client suitability when recommending fixed-income and structured products, particularly for complex and risky products.

AML / KYC

Crypto Exchanges Back on Track in S.Korea with New Account Guidelines

By Manesh Samtani | 25/01/2018

Guidelines cover dealings with exchanges, preventing money-laundering, aiding taxation; exchanges to be fined for privacy issues; payments to overseas exchanges blocked.

AML / KYC

Real Estate and Trade Finance – The New AML Battlegrounds

By Samuel Riding | 25/01/2018

After years of scrutiny of banking relationships, regulators are now turning their attention to other stores of value, according to Accuity CEO Hugh Jones.

AML / KYC

AML Now a Top Concern for Chinese Regulators, and a Worry for Banks

By Yaqi Bao | 24/01/2018

It is clearer than ever that Chinese regulators take AML as a major priority, but domestic banks can lack the expertise to meet ever-increasing requirements.

AML / KYC

Chinese Banks Told to Develop e-KYC, Facial Recognition

By Samuel Riding | 22/01/2018

PBOC notice says e-KYC can help better serve real economy; SME account applications should be audited within two days of receipt.

AML / KYC

US Fed Fines Taiwanese Bank $29mn for AML Failures

By Editors | 19/01/2018

US Federal Reserve Board cites deficiencies in Mega Bank’s operations, risk management and compliance controls in relation to AML and bank secrecy laws.