AML / KYC

Accenture's Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.

The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.

Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.

RUSI and Stop Scams UK say policy changes are needed to allow data sharing for the purpose of combatting scams.

Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.

The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.

Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

The CBSL said it is not in a position to consider Russia's request to operate the Mir card scheme in Sri Lanka, due to US sanctions.

Myanmar is on the FATF "blacklist" alongside Iran and North Korea. Pakistan was removed from the "grey list".

InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.