AML / KYC

AML / KYC

Japan FSA Issues AML/CFT Guidelines for CPAs, Auditors

By Mark Johnston | 19/12/2023

The guidelines require CPAs to verify client identities, keep 7 years of transaction records, provide AML/CFT training to staff, and report suspicious transactions.

AML / KYC

SEBI Simplifies Rules for Obtaining ‘Accredited Investor’ Status

By Ajoy K Das | 19/12/2023

Certain documentary requirements are removed, certification will be granted based solely on KYC and financial information, and the validity period is lengthened.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

AML / KYC

MAS Suspends Non-Bank, Non-Card Channels for China Remittances

By Editors | 19/12/2023

The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.

Crypto / Digital Assets

Korea Showing Leadership on Crypto Assets, Says IMF Head

By Mark Johnston | 18/12/2023

Korea is showing leadership by amending its AML law and setting up new legislation on crypto assets, said the IMF’s Kristalina Georgieva.

Crypto / Digital Assets

IOSCO Calls for Stronger Response to Online Threats to Retail Investors

By Manesh Samtani | 17/12/2023

Collaboration is needed between regulators, law enforcement, and stakeholders in the broader online ecosystem like search engine operators and social media platforms.

AML / KYC

Australia Appoints NEW AUSTRAC CEO for Five Year Term

By Editors | 17/12/2023

Brendan Thomas from the NSW Department of Communities and Justice will replace Nicole Rose effective 29 January 2024.

AML / KYC

India, US Pledge to Cooperate on Global Illicit Finance Risks

By Editors | 17/12/2023

Key topics of the joint India-US AML/CFT Dialogue were virtual assets, sanctions implementation, and beneficial ownership transparency.

AML / KYC

HK Amends National Security Law to Facilitate Asset Freezes

By Editors | 15/12/2023

The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.