AML / KYC

    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.

    AML / KYC

    Prospects of Western–Japanese Coordination on Human Rights Sanctions

    By Sasha Erskine | 15/05/2021

    Japan will set itself apart as an active sanctioning partner in Asia and further boost the global effort to combat human rights violations, writes RUSI’s Sasha Erskine.

    AML / KYC

    Taiwan FSC Fines Citibank, DBS for AML Violations

    By Editors | 14/05/2021

    The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.

    AML / KYC

    Singapore: Former BP Director Jailed on Corruption Charges

    By Editors | 14/05/2021

    The former regional director was also ordered to pay a penalty of SGD 6.2 million and faces additional money laundering charges.

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