Government Inspectorate says SBV should take action against individuals named in report; provincial and administrative units reminded to report all criminal activity.
Banker accused of facilitating transfer of $14mn into fake accounts, transferring money to a single account without following KYC procedures.
BNM governor has said the central bank intends to operationalise industry-wide e-KYC from next year; regulations for use in remittances to come soon.
Ben Pott, head of government affairs at NEX Group, suggests Brexit and the time taken to resolve US-EU CCP issue, make equivalency rulings unlikely.
Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.
Regtech to include API for FIs' reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.
A roadmap is useful when you get to a junction, where the path is unknown, and the choices are plenty. In the world of data, there are many junctions.
Banks will be required to calculate leverage ratios as of June 30 this year in response to consultation before full requirement comes into effect.
Deloitte says regulators in the region also need to take a more joined-up approach as financial institutions outsource to jurisdictions with looser regimes.
Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.
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