AML / KYC

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    AML / KYC

    UK FCA Outlines Next One Year of Work to Improve Markets

    By Editors | 11/04/2023

    The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.

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    AML / KYC

    Binance.US Struggling to Secure Banking Services – Report

    By Mark Johnston | 08/04/2023

    Binance.US previously relied on either Signature Bank or Silvergate Capital to handle its customers’ cash deposits.

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    AML / KYC

    BSP Issues New CDD Rules to Support PhilSys Enabled e-KYC

    By Sanday Chongo Kabange | 07/04/2023

    The PhilSys national digital ID system is acceptable for e-KYC, provided it is supported by “robust technology, adequate governance, processes, and procedures”.

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    Crypto / Digital Assets

    US Treasury Publishes First Ever DeFi Risk Assessment

    By Manesh Samtani | 07/04/2023

    Treasury calls on the private sector to use the risk assessment to inform their risk mitigation strategies, and offers recommendations on government action.

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    AML / KYC

    AUSTRAC Provides AML/CTF Exemption for CBDC Pilot

    By Sanday Chongo Kabange | 07/04/2023

    The exemption applies to CBDC issuance, redemption, exchange, custody, storage, transfer, account opening and other areas for the RBA, pilot participants and customers.

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    AML / KYC

    UPDATED – HK Police Charge 10 Suspects for Ramp-and-Dump Activities

    By Editors | 06/04/2023

    Four of the individuals are alleged to have conspired with some of the individuals who were charged last September to use nominee accounts to corner the shares of two target stocks.

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    Enforcement

    UK Steel Traders Jailed for $500m Trade Finance Fraud

    By Mark Johnston | 05/04/2023

    Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.

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    AML / KYC

    ICAC Concludes First Training Day for Banks on Corruption Risk

    By Sanday Chongo Kabange | 05/04/2023

    Acting ICAC Commissioner Ricky Yau said the training programme is aimed at enhancing banking sector standards on preventing corruption risk.

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    AML / KYC

    China Deepens Financial Sector Corruption Crackdown

    By Editors | 05/04/2023

    Officials told bankers they should learn lessons from Bank of China chairman Liu Liange, who was recently placed under investigation.

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    AML / KYC

    Australia Introduces AML/CTF Amendment Bill to Parliament

    By Editors | 04/04/2023

    The amendments will strengthen and modernise aspects of Australia’s AML/CTF regime, and assist AUSTRAC in fulfilling its functions.

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