AML / KYC
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Australian Regulator Launches CBA Inquiry
Samuel Riding, Regulation Asia August 29, 2017APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.
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Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations
Editors, Regulation Asia August 24, 2017Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.
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Australia Signals Currency Status, AML Clampdown for Bitcoin
Samuel Riding, Regulation Asia August 21, 2017Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.
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Indian Brokers’ AML Compliance Under Heightened Scrutiny
Editors, Regulation Asia August 21, 2017SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.
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Philippines Removed from AML/CTF Blacklist
Samuel Riding, Regulation Asia August 16, 2017Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.
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Pakistan’s Central Bank Releases Compliance Risk Management Guidelines
Garima Chitkara, Regulation Asia August 10, 2017State Bank of Pakistan guidelines to promote a “compliance culture” in banks and encourage the adoption of a risk-focused approach to compliance.
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HKMA Collecting UnionPay ATM Withdrawal Data
Garima Chitkara, Regulation Asia August 10, 2017Regulator has asked for number of withdrawals and amounts to regulate the use of UnionPay cards in Hong Kong.
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A Front Line Out of Control
Peter Guy, Regulation Asia August 7, 2017Conduct and regulatory risks continue to mount as China’s crackdown on corruption puts pressure on private banks and wealth managers.
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CBA Responds to AUSTRAC Civil Proceedings
Garima Chitkara, Regulation Asia August 7, 2017Bank claims that the missing TTRs were due to a coding error following a software update in the IDMs since November 2012 until September 2015.
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CBA in Alleged ‘Serious’ Breach of AML/CTF Rules
Garima Chitkara, Regulation Asia August 3, 2017AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.
