AML / KYC

Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.

A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.

Regulation Asia sat down with SIX's Neil Thomas and Robert Jeanbart to discuss what sanctions monitoring means for financial institutions in Asia.

In preparation for this year's FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.

The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.

The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.

The FSA reportedly wants to ensure appropriate measures have been implemented for customer protection and legal compliance after recent management changes.

The 10-month ban on Su Xiqiang, former head of Guosen's retail brokerage, was a result of improper handling of third-party fund deposits, and a lack of AML controls.

AML/CFT is an ideal test field for new technologies given the risk factors and complex challenges Asian banks face, says Synpulse's Prasanna Venkatesan.