AML / KYC

AML / KYC

US Investors Barred from Buying Stocks Linked to Chinese Military

By Manesh Samtani | 15/11/2020

Index providers will likely be forced to remove companies like China Mobile and China Telecom from key benchmarks by 11 January.

AML / KYC

New Opportunities for Banks in Client Onboarding

By Stephan Wolf | 12/11/2020

By adjusting their onboarding processes, FIs can enhance their client experience, reduce costs and pave the way for new cross border services, explains GLEIF CEO Stephan Wolf.

AML / KYC

Philippine Authorities Probe Financial Transactions Linked to Wirecard

By Sanday Chongo Kabange | 11/11/2020

The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

AML / KYC

MAS Proposes to Strengthen FIs’ Identity Verification Process

By Editors | 10/11/2020

The proposed Notice will prohibit FIs from relying on common personal information such as NRIC number, residential address and date of birth as the sole means of identity verification.

AML / KYC

US Sanctions Four More Officials Over Hong Kong National Security Law

By Sanday Chongo Kabange | 10/11/2020

China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.

AML / KYC

AUSTRAC to Ramp Up Industry Guidance on AML Obligations

By Manesh Samtani | 09/11/2020

An unprecedented amount of AML/CTF information will be provided to industry in the next 6-12 months, says AUSTRAC’s David Hawkins.

AML / KYC

Hong Kong Lawmaker to Propose Bill to Combat Illegal Wildlife Trade

By Editors | 09/11/2020

The bill will seek to incorporate wildlife crimes into Hong Kong’s Organised and Serious Crimes Ordinance, allowing authorities to follow the money and prosecute syndicate leaders.

AML / KYC

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

By Editors | 04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.