AML / KYC

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    Big Picture

    APG Report Calls for Stronger AML/CFT Response to Illegal Fishing

    By Manesh Samtani | 30/11/2023

    Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.

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    AML / KYC

    MAS Spotlights Interest Rate and Money Laundering Risks

    By Editors | 29/11/2023

    The latest Financial Stability Review discusses the impact of rising global interest rates on households and increased concerns over money laundering.

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    AML / KYC

    HKMA Launches New Service to Alert FPS Users of Potential Fraud

    By Sanday Chongo Kabange | 29/11/2023

    The new alert mechanism will alert banking customers when an FPS proxy ID is flagged as “High Risk” on the Scameter search engine.

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    AML / KYC

    Singapore Banks to Roll Out “Money-locking” Anti-Scam Measure

    By Editors | 28/11/2023

    ‘Locked up’ funds will remain safe, even if the customer’s mobile devices or bank account login credentials fall into the wrong hands.

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    AML / KYC

    Taiwan Banks Blocked TWD 5.5 billion in Fraud in 2023

    By Mark Johnston | 28/11/2023

    CTBC Bank, Cathay United Bank and Chunghwa Post each blocked more than 1,100 fraud attempts from Q1 to Q3.

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    AML / KYC

    13 FIUs Establish Task Force to Disrupt Terrorist Financing

    By Editors | 28/11/2023

    The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

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    AML / KYC

    India’s IFSCA Proposes Accredited Investor Framework for GIFT City

    By Ajoy K Das | 28/11/2023

    Minimum investment thresholds applicable to venture capital schemes, restricted schemes, and portfolio management services would not apply to accredited investors.

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    AML / KYC

    HK Police, Banks Inaugurate New “Anti-Deception Alliance”

    By Editors | 27/11/2023

    Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.

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    Capital / Liquidity

    China Finalises Bank Rules on Country Risk Management

    By Editors | 27/11/2023

    Banks must establish “formal internal country risk rating systems” and set aside proportionate reserves for country risk.

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    AML / KYC

    Australia Unveils First Quarterly Report from New Anti-Scam Centre

    By Editors | 26/11/2023

    The quarter ended with reported scam losses of A$29.8mn in September 2023, the lowest reported in a single month since October 2021.

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