AML / KYC

AML / KYC

FATF Examines Collaborative Analytics and the Need for Privacy

By Manesh Samtani | 06/07/2021

An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.

AML / KYC

SFC Fines Yardley Securities CEO for AML/CFT Breaches

By Editors | 05/07/2021

The processing and approval of suspicious third party fund transfers were attributable to the CEO’s failures to discharge his duties, the SFC said.

AML / KYC

Taiwan: New AML Rules For Crypto Exchanges Take Effect

By Sanday Chongo Kabange | 05/07/2021

Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.

AML / KYC

FinCEN Publishes First Government-wide AML/CFT Priorities

By Ranamita Chakraborty | 05/07/2021

FinCEN will publish new rules within 6 months reflecting the priorities, which identify the most significant AML/CFT threats currently facing the US.

AML / KYC

FATF Examines Technology Use in AML/CTF Efforts

By Manesh Samtani | 05/07/2021

While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain “very important”.

AML / KYC

Japan to Form Cross-agency AML Team Following FATF Review

By Editors | 05/07/2021

A new team being formed under the Cabinet Secretariat may help overcome the current fragmented bureaucracy and enhance cross-agency coordination.

AML / KYC

Risk Assessments Should Focus on National Priorities: Wolfsberg Group

By Manesh Samtani | 04/07/2021

Most FIs focus their AML/CTF risk assessments on technical compliance rather than government priorities and effectiveness, the Wolfsberg Group says.

AML / KYC

Indonesia, Brunei to Cooperate on AML/CTF in Payments

By Editors | 03/07/2021

The MoU aims to strengthen policy cooperation on AML/CTF in payments. Indonesia is seeking to become a member of the FATF.

AML / KYC

FSC Korea Concerned of Embezzlement by Crypto Exchanges

By Editors | 02/07/2021

As the 24 September deadline for VASPs to register their businesses approaches, some businesses may close down, presenting risks to customer deposits.