AML / KYC

AML / KYC

China Issues Guidelines on Facial Recognition Enabled Payments

By Editors | 23/01/2020

The guidelines set out principles for the use of facial recognition technology in payments, covering user consent and the collection, storage and use of facial data.

Fintech / Regtech

What FATF Recommendation 16 Means for the Crypto Industry

By Michael Ou | 22/01/2020

Implementing strict KYC processes to comply with the ‘travel rule’ may be costly, but it is a necessary sacrifice to build a stronger industry in the long-run, says Michael Ou at CoolBitX.

AML / KYC

Fighting Modern Slavery: What the Banking Sector Can Do to Help

By Matt Friedman | 17/01/2020

Many banks are retooling to include modern slavery as one of the issues they track within their existing AML protocols, says Matt Friedman, CEO of The Mekong Club.

AML / KYC

MAS Publishes Responses to VCC Consultation Papers

By Editors | 16/01/2020

VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.

AML / KYC

Singapore Convicts a Second National for Terrorism Financing

By Editors | 15/01/2020

Imran Kassim became the first Singapore national to be charged for terrorism financing last April, but is the second to be convicted and sentenced.

AML / KYC

Bangladesh Introduces e-KYC for All Financial Services Firms

By Editors | 13/01/2020

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

AML / KYC

AUSTRAC, UK Gambling Commission Sign Anti-Financial Crime MOU

By Editors | 13/01/2020

The signing of the MOU brings the number of jurisdictions AUSTRAC shares regulatory intelligence with to five, on top of 93 MOUs it has with financial intelligence units.

AML / KYC

RBI Allows Regulated Entities to Use Video-based KYC

By Editors | 10/01/2020

Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.

AML / KYC

Technology to Drive Regulatory Agenda in 2020: Thomson Reuters

By Manesh Samtani | 09/01/2020

Technology has displaced the 2008 financial crisis as the main issue driving the international regulatory agenda, says a new report from Thomson Reuters.