Recent FCA case highlights cost of mismanaged outsourcing. Potential IT problems are brewing for private equity GPs too as big deals systemically overlap banking system.
Indian securities regulator specifies a narrow definition and identification of beneficial ownership for foreign investors into India and establishes new KYC norms.
Financial Services Commission to conduct on-site expectations of three banks with cryptocurrency account relationships.
Participating banks are now obliged to report to the police attempts to use ID cards that are fake or belonging to another person.
American convinced victim to make $600,000 investment with promise of 30% return, but instead transferred to Singapore account.
Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.
Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.
Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.
Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts
FSS and KoFIU will check on implementation progress of AML guidelines; examine corporate accounts belonging to crypto exchanges.
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