Circular sent to firms following a feedback report issued by the Joint Financial Intelligence Unit.
Plan includes penalties for noncompliance, rooting out of foreign investors and minors, but no trading ban in the short term.
Consultation suggests it could take just six months for banks to develop APIs including their product and service information.
Move will require all financial services firms operating in the country to provide customers identification and tax details to the regulator by 2022.
Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.
Korea carries out bank inspections, China power cut on Bitcoin miners, Japan scrutinises banks' cryptocurrency activities.
Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.
PBOC confirms overseas investors can use RMB funds to participate in China’s emissions trading market; send RMB profits, dividends back home.
Exchanges to be recognised by central bank once regulations are in place; draft guidelines on reporting obligations to come into force early 2018.
Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.
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