AML / KYC

    AML / KYC

    FATF to Study Unintended Consequences of the FATF Standards

    By Editors | 18/03/2021

    The project will study issues such as de-risking, financial exclusion, the suppression of the NPO sector and threats to fundamental human rights.

    AML / KYC

    SFC Fines Yardley Securities for AML/CFT Breaches

    By Editors | 17/03/2021

    Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.

    AML / KYC

    UPDATED – US Federal Judge Lifts Investment Ban Against Xiaomi

    By Manesh Samtani | 17/03/2021

    The judge said there was no evidence of Xiaomi sharing information with the Chinese government, and that the ban deprived the company of its right to due process.

    AML / KYC

    Fintel Alliance Secures Win Against ‘Cuckoo Smurfing’ Syndicate

    By Ranamita Chakraborty | 16/03/2021

    ANZ’s link analysis capability allowed the rapid interrogation of combined banking datasets, which led to the arrests of five individuals involved in an international cuckoo smurfing syndicate.

    AML / KYC

    HK, China Working to Simplify Cross-border Account Opening

    By Editors | 15/03/2021

    Regulators are reportedly working to simplify cross-border bank account opening processes to facilitate the launch of Wealth Management Connect.

    AML / KYC

    SFC Fines Sino-Rich Securities & Futures for AML Breaches 

    By Editors | 15/03/2021

    Sino-Rich Securities & Futures routinely processed 238 cash deposits and 269 third party transfers without adequate AML/CTF controls in place.

    AML / KYC

    FATF, Egmont Group Identify 35 Indicators of TBML Risk

    By Manesh Samtani | 14/03/2021

    The indicators are grouped into four categories: the structure of the business, trade activity, trade documents and commodities, and account and transaction activity.

    AML / KYC

    APRA Ends Westpac Probe into Possible Banking Law Breaches

    By Editors | 14/03/2021

    The investigation did not find evidence of breaches of the Banking Act or the BEAR, according to APRA Deputy Chair John Lonsdale.

    AML / KYC

    Thailand to Launch Standard Form for Capital Market Access

    By Editors | 13/03/2021

    From 1 July, all intermediaries will use a standard form for account opening, providing investors easier access to stocks, debt instruments, mutual funds and derivatives.

    AML / KYC

    SEBI Rolls Out KYC Registry Extension to Legal Entities

    By Editors | 13/03/2021

    Regulated entities are directed to upload KYC data for accounts of legal entities to the Central KYC Registry.

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