AML / KYC

The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.

Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.

Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.

SEBI to increase focus on source and use of funds going through the alternative investment fund framework.

Indonesian banks, regulators and financial infrastructure firms invited to register with the tax office under AEOI norms.

Less than half of wallet consumers opted to be KYC-compliant before the 28 February deadline; new KYC norms will force telecom firms to verify customer data using third-parties, taking away their current advantage over other payment firms.

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

4th AMLD to prove a headache for Asian institutions which already share clients and data with EU-based subsidiaries, potentially influencing Asia-based parent institutions themselves.

The government has unveiled its final report on its review on open banking, detailing 50 recommendations on implementing the new data-sharing regime.

Possible solutions include enhancing AML/CFT controls at banks, promoting best practices at money transfer operators, improving information sharing by supervisory authorities.