Anti-Money Laundering

Anti-Money Laundering

FATCA in Full Force

By Peter Guy | 19/05/2015

For the first time in history, the US Government wields an international array of law enforcement tools specially designed to pursue tax evasion. But, what are the repercussions?

Anti-Money Laundering

HKMA Requires New Tax Checks on Banks’ Clients

By Editors | 18/05/2015

In a push to monitor money laundering in the banking system, Hong Kong regulators have asked banks to look into customer’s filings to see if they’re paying their dues.

Anti-Money Laundering

Regulatory Advisory Firm Bovill Names New Head for Asia

By Editors | 11/05/2015

Specialist financial services regulatory consultancy Bovill said it named Eddie Lim as new head of Bovill Asia.

Supervision & Enforcement

ASIC Seeks Reforms in Dealing with Client Legal Privilege

By Editors | 07/04/2015

The Australian Securities & Investments Commission is seeking reforms that would prevent people from making unsubstantial claims of client legal privilege that could delay investigations into breaches of the corporation law.

Anti-Money Laundering

The Risk of De-Risking

By Editors | 02/04/2015

Complying with anti-money laundering regulations while protecting the bottom line.

KYC & CDD

Making KYC Accessible for Smaller Banks

By Editors | 26/03/2015

SWIFT has introduced a free-to-use utility that will help smaller institutions achieve compliance and reduce the cost and problems of procedures.

Anti-Money Laundering

Australian Banks Defend Corporate Tax Practices in Senate Inquiry

By Editors | 10/02/2015

Australia’s largest banks were among financial institutions that defended their corporate tax practices in submissions to the Senate inquiry, which is currently looking into the adequacy of the country’s corporate tax laws.

Anti-Money Laundering

India’s RBI Tightens Compliance Amid Iran Export Scam Probe

By Editors | 10/02/2015

The Reserve Bank of India (RBI) has ordered banks to tighten monitoring of export finance deals, saying lenders should ensure that only legitimate export advances flow into India.

Anti-Money Laundering

India Exempts Smaller Rural Banks from FATCA

By Editors | 03/02/2015

The Reserve Bank has exempted regional rural banks with assets of less than $175 million from registering with the American tax authorities under the Foreign Account Tax Compliance Act.