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AML / KYC
AML / KYC
Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions
By Editors | 20/07/2024
Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.
Sanctions
OFAC Announces More Sanctions Targeting Houthi Funding
By Editors | 20/07/2024
The targets include individuals and companies based in Indonesia, Malaysia, Singapore, China, and the UAE, along with five vessels.
AML / KYC
Taiwan FSC Imposes AML Fine on Crypto Firm ACE Exchange
By Editors | 19/07/2024
ACE Exchange failed to verify customer identities and to set different transaction monitoring thresholds based on customer risk levels, among other violations.
AML / KYC
India Issues New Forms for Disclosing Beneficial Ownership
By Ajoy K Das | 19/07/2024
The Ministry of Corporate Affairs published two new forms for companies to use to disclose beneficial ownership and related changes.
AML / KYC
FATF Issues Update on Standards Work for the NPO Sector
By Manesh Samtani | 19/07/2024
The FATF will revise Recommendation 1 to better enable financial inclusion by improving the risk-based approach and supervision.
AML / KYC
MAS Working to Standardise AML Programmes Across FIs
By Nithya Subramanian | 19/07/2024
MAS intends to engage the industry to “set a clearer waterline of practices” and ensure AML requirements are implemented “more evenly” across the sector.
AML / KYC
UK FCA Directs FIs to Review Treatment of PEPs
By Editors | 19/07/2024
The FCA has also issued a new consultation proposing changes to its guidance on the treatment of PEPs to ensure they are not treated unfairly.
AML / KYC
Philippine Agencies Seek Ban On Offshore Gaming Operators
By Nithya Subramanian | 19/07/2024
Officials from various government departments said POGO activities paint a negative picture of the Philippines and result in lower tourism revenues.
AML / KYC
Taiwan Strengthens AML Requirements for Crypto Firms
By Nithya Subramanian | 18/07/2024
The amended law requires crypto platforms to establish local entities and complete a registration process to offer services in Taiwan.
Crypto / Digital Assets
GDF, GLEIF Announce Digital Asset Industry Partnership
By Editors | 17/07/2024
GDF said the partnership with GLEIF aims to raise awareness of the value of consistent party identification via the LEI.
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