AML / KYC

    AML / KYC

    Australia Launches New Director ID Regime

    By Editors | 07/11/2021

    Directors will face penalties for not applying for a director ID on time, for providing false ID information, or intentionally applying for multiple director IDs.

    AML / KYC

    HKMA Launches AMLab Series to Experiment with Network Analytics

    By Editors | 07/11/2021

    Five banks will work with data experts to experiment with the use of data analytics and network diagrams in identifying suspected money mules.

    AML / KYC

    CCDI Official Offers Glimpse of PBOC-linked Corruption Cases

    By Darien Choong | 07/11/2021

    Financial corruption and financial risks are intertwined, said senior inspector Xu Jiaai, speaking about corruption cases involving PBOC officials.

    AML / KYC

    India Undergoes National Risk Assessment on ML/TF Risks

    By Editors | 07/11/2021

    Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

    AML / KYC

    MAS Proposes to Ease Retail Investor Access to Funds

    By Manesh Samtani | 04/11/2021

    Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.

    AML / KYC

    Japan to Require Companies to Disclose Major Shareholders

    By Editors | 03/11/2021

    Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

    AML / KYC

    Trust but Verify: Establishing a Client’s Source of Wealth

    By Editors | 01/11/2021

    The Pandora Papers provide a stark reminder of the importance of having a robust risk assessment process in place for due diligence and source of wealth checks.

    AML / KYC

    IFC to Develop e-KYC Infrastructure for Bangladesh

    By Editors | 31/10/2021

    International Finance Corporation will help Bangladesh’s FIU develop e-KYC infrastructure to advance digital transformation and financial inclusion.

    AML / KYC

    AUSTRAC Asks Banks to Avoid Indiscriminate De-banking Practices

    By Editors | 31/10/2021

    De-banking activities lead criminal activity underground and compound the risks criminals pose to Australia’s financial system and the community.

    AML / KYC

    FATF Issues Final Updated Guidance on Virtual Assets, VASPs

    By Manesh Samtani | 29/10/2021

    The guidance offers clarification on the definition of VASPs, and explains how the FATF standards apply to stablecoins, P2P transactions, NFTs and DeFi.

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