AML / KYC

    AML / KYC

    US Treasury Paper Outlines Proposal for New Tax Reporting Regime

    By Sanday Chongo Kabange | 24/05/2021

    The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.

    AML / KYC

    Hong Kong to Bar Retail Investors from Crypto Trading

    By Manesh Samtani | 24/05/2021

    Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.

    AML / KYC

    Philippine AMLC to Penalise Firms for Incorrect STR Filings

    By Manesh Samtani | 23/05/2021

    AMLC Executive Director Mel Georgie Racela told Regulation Asia that incorrect STR filings identified in a recent review will result in supervisory action.

    AML / KYC

    Proliferation Financing Risk: A Due Diligence Challenge

    By Manesh Samtani | 19/05/2021

    Measures for detecting proliferation financing risk are designed to help identify sanctions evasion and uncover the beneficial owners of corporate entities.

    AML / KYC

    US, UK, Canada Announce Fresh Sanctions Against Myanmar

    By Sanday Chongo Kabange | 18/05/2021

    The latest sanctions actions cite attacks and human rights violations against the people of Myanmar, including the killing of children.

    AML / KYC

    Former Manager of Sun Life HK Charged for Money Laundering

    By Editors | 18/05/2021

    The ICAC alleges that the former senior unit manager of Sun Life Hong Kong dealt with crime proceeds totalling over HKD 640,000.

    AML / KYC

    RBI Relaxes Restrictions on the Use of Video-based KYC

    By Editors | 17/05/2021

    Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.

    AML / KYC

    US DOJ Repatriates $460m of Seized 1MDB Funds to Malaysia

    By Editors | 16/05/2021

    Seized and repatriated 1MDB funds are being utilised to repay and service 1MDB and SRC’s debts, which remain above $10.2billion.

    AML / KYC

    US DOJ Penalises Swiss Life for Facilitating Tax Evasion

    By Editors | 16/05/2021

    Swiss Life and its subsdiaries created and marketed insurance products specially designed for US persons seeking to hide offshore assets and evade tax.

    AML / KYC

    Pakistan to Pass Two New Laws to Meet FATF Action Plan

    By Sanday Chongo Kabange | 15/05/2021

    The laws cover the handling of forfeited properties and assets, and the transfer of money laundering cases to specialised agencies.

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