AML / KYC
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Pakistan, World Bank Ink Technical Cooperation Agreement
Samuel Riding, Regulation Asia January 30, 2017Cooperation to focus on risk-based supervision and cybersecurity.
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Bangladesh Central Bank to Install New SWIFT System
Samuel Riding, Regulation Asia January 30, 2017New cybersecurity system aims to avoid ‘unwanted incidents’ in overseas payments.
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PBOC Orders Banks to up Scrutiny of Overseas Business
Samuel Riding, Regulation Asia January 30, 2017Banks should review acquisition targets’ future profitability, strengthen AML/CTF supervision.
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China Completes Digital Bank Acceptance Bills Trial
Samuel Riding, Regulation Asia January 27, 2017ICBC and BOC involved in trial which could preface introduction of blockchain-backed legal tender.
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RBI Said to Lift Cash Withdrawal Limits by End-Feb
Samuel Riding, Regulation Asia January 27, 2017Report suggests 78-88% of currency supply will be back in the system within 2 months.
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HK Regulator Details AML/CTF Failures
Samuel Riding, Regulation Asia January 27, 2017SFC identified 200 instances of non-compliance during 2016 inspections.
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Corrupt Lao Officials ‘Voluntarily’ Returning Money
Samuel Riding, Regulation Asia January 26, 2017Government campaign aims to curb ‘rampant corruption’ including bribes, kickbacks, forgery and fraud.
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India to Tighten P-Note Regulation
Samuel Riding, Regulation Asia January 24, 2017SEBI chairman cites concerns about tax evasion, stock price manipulation.
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Philippines Tightens Money Service Rules
Samuel Riding, Regulation Asia January 23, 2017New rules limit cash transactions, require compliance with Anti-Money Laundering Act provisions.
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Philippine Authorises ‘Cash Agents’ in Financial Inclusion Drive
Samuel Riding, Regulation Asia January 20, 2017Banks will be allowed to use off-site agents, including at convenience stores, to provide withdrawals, conduct KYC.
