AML / KYC

A global survey of sanctions professionals reveals a lack of industry awareness of proliferation finance risks, and a lack of focus on this area in compliance programmes.

A well-intentioned decision on Iran in 2016 has haunted FATF ever since. That decision is about to become a nightmare, says RUSI's Tom Keatinge.

The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.

Six banks will open online deposit accounts digitally, using facial recognition to verify customer identities against information held in the new National Digital ID platform.

ACAMS will encourage financial crime professionals globally to adopt a blueprint for mobilising finance against modern slavery and human trafficking.

The class actions seek damages for investors who lost money on Westpac ADRs following the civil penalty orders filed against the bank by AUSTRAC last November.

'POET' digitally receives and responds to investigation requests with minimal human intervention, allowing OCBC to respond to law enforcement requests within 1-2 working days.

BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.

Any member of the promoter group would be deemed a related party regardless of shareholding. Any shareholder with more than 20% of a listed company's shares would also be deemed a related party.

Increasingly aggressive US sanctions policies highlight the need for financial institutions to adopt and implement a sophisticated risk-based approach to compliance.