AML / KYC

AML / KYC

HK ICAC Charges Three Ex-StanChart Employees For Fraud

By Editors | 27/01/2022

The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.

AML / KYC

PBOC Finalises CDD Rules, Launches Nationwide AML Campaign

By Manesh Samtani | 27/01/2022

New rules effective from 1 March impose stricter requirements on beneficial owner identification and verification, including for non-bank financial firms.

AML / KYC

Faster Transactions Impeding Scam Loss Recoveries: HK Police

By Sanday Chongo Kabange | 27/01/2022

Online banking, electronic payment services and cryptocurrency wallets have made it more difficult to recover scam proceeds.

AML / KYC

COSMIC Will Yield Significant and Far Reaching Benefits

By Jamil Ahmed | 26/01/2022

Singapore is taking a leap forward in how its financial services industry detects and combats financial crime, says Jamil Ahmed.

AML / KYC

‘Focus on Fundamentals’ Could be Financial Crime Achilles Heel

By Bradley Maclean | 26/01/2022

New research suggests more meaningful financial crime prevention may be achieved with targeted investments in higher risk areas.

AML / KYC

FinCEN to Allow FIs to Share SARs with Foreign Affiliates

By Editors | 25/01/2022

A limited-duration pilot programme would permit FIs to share SARs and information related to SARs with foreign branches, subsidiaries, and affiliates.

Fintech / Regtech

Taiwan FSC to Explore Digital Identity Via Thematic Sandbox

By Editors | 24/01/2022

‘Digital Identity Authentication and Authorisation’ was selected as the theme for the sandbox, to promote more convenient and secure access to financial services.

AML / KYC

OFAC Sanctions Ukrainian Nationals Identified as “FSB Pawns”

By Manesh Samtani | 23/01/2022

The action is separate from the “broad range of high impact measures” the US and its allies may impose if Russia invades Ukraine.

AML / KYC

AUSTRAC Expands AML Probe of Star Casino Group to ‘Other Entities’

By Sanday Chongo Kabange | 21/01/2022

AUSTRAC has advised Star that it has not yet made a decision regarding its regulatory response, including whether or not enforcement action will be taken.