AML / KYC

    AML / KYC

    New CDD Rules to Have ‘Limited’ Impact on Customers: PBOC

    By Editors | 13/02/2022

    The PBOC has responded to concerns about incoming rules that will require banks to perform extra due diligence for deposits and withdrawals exceeding CNY 50,000.

    AML / KYC

    Australia Senate Introduces Tranche 2 Reform Bill, Again

    By Manesh Samtani | 13/02/2022

    The bill, if passed, will help fulfill a nearly 16-year-old commitment to bring gatekeeper professions within Australia’s AML regime, and require the establishment of a public UBO register.

    AML / KYC

    In Conversation With Nathan Newman, AUSTRAC

    By Bradley Maclean | 11/02/2022

    Nathan Newman says regulated entities are uplifting their AML capabilities but could do more to apply appropriate assurance to their upgrades.

    AML / KYC

    HK Gov Issues Discussion Paper on Proposed VASP Regime

    By Manesh Samtani | 11/02/2022

    Licensing will be available to companies incorporated elsewhere as long as they have a registration in Hong Kong.

    AML / KYC

    Wash Trading Undermines Trust in NFT Markets: Report

    By Manesh Samtani | 10/02/2022

    Wash trading profits are likely derived from sales to “unsuspecting buyers”, who believe the NFTs they purchase have been growing in value.

    AML / KYC

    EU Due Diligence Proposal Expected Before end-February

    By ESG Investor | 10/02/2022

    Investors and companies are urging the European Commission to adopt supply chain scrutiny rules “without further delay”.

    AML / KYC

    US DOJ Makes Largest Ever Cryptocurrency Seizure

    By Sanday Chongo Kabange | 10/02/2022

    The DOJ seized a record USD 3.6 billion in bitcoin tied to the 2016 Bitfinex hack, representing the largest financial seizure in its history.

    AML / KYC

    PBOC Fines MYbank for AML and Other Violations

    By Editors | 10/02/2022

    MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.

    AML / KYC

    Thai SEC Calls on Crypto Businesses to Improve Cybersecurity

    By Editors | 09/02/2022

    The SEC reminds crypto businesses to bolsters their cybersecurity systems, safeguard customer assets, and comply with IT audit and penetration testing requirements.

    AML / KYC

    ASIC Facing Resistance from Banks on Anti-Scam Measures – Report

    By Editors | 09/02/2022

    ASIC reportedly decided against including scam prevention as part of its ePayments Code review as a result of “fierce pushback” from major banks.

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