AML / KYC

AML / KYC

China Consults on Draft CFT rules for Social Organisations

By Editors | 05/01/2025

Under the rules, social organisations have to undertake periodic TF risk assessments and implement risk prevention measures commensurate with their TF risks.

AML / KYC

Taiwan to Loosen Rules Imposed on Overseas Securities Clients

By Editors | 04/01/2025

The FSC will make account opening, order verification and fund deposits more convenient for overseas clients

AML / KYC

Thailand Works to Address Risks of Myanmar Transactions

By Manesh Samtani | 04/01/2025

No evidence was found that transactions with Myanmar were linked to weapons purchases. A new sanctions policy has been issued.

Crypto / Digital Assets

Philippine SEC Proposes New Regulatory Framework for Crypto

By Manesh Samtani | 02/01/2025

The rules cover capital requirements, consumer protection, disclosures and marketing, AML compliance, market abuse, and cybersecurity.

AML / KYC

Taiwan FIs to Connect ‘Financial Fast-ID’ Verification Systems

By Editors | 02/01/2025

A cross-system verification hub is being developed to connect the existing digital identity verification systems of various FIs.

AML / KYC

Vietnam Launches Nationwide Campaign Against Online Fraud

By Editors | 01/01/2025

Measures include developing an interagency coordination model and enhancing account verification, Internet banking security, and controls on crypto-related transactions.

AML / KYC

PNG Agencies Launch New Anti-Money Laundering Task Force

By Editors | 31/12/2024

The task force is described as a “crucial step” in PNG’s efforts to combat financial crime and avoid being placed on the FATF’s grey list.

AML / KYC

HKMA Directs Banks to Implement More Anti-Scam Measures

By Manesh Samtani | 28/12/2024

HKMA says banks should seek Police assistance and consider holding the transaction if they believe a customer is being scammed.

AML / KYC

OCC Issues Order Requiring BofA to Fix AML Deficiencies

By Editors | 28/12/2024

The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.