KYC & CDD

Sustainable Finance

Thai SEC Signs New Financial Services MoU with UK

By Editors | 11/01/2023

The MoU will focus on developing the FinTech sector, promoting sustainable finance, and increasing awareness of sustainable investment in Thailand and other ASEAN countries.

Anti-Money Laundering

AML Effectiveness Requires Risk Awareness, Quality Data: JFSA

By Bradley Maclean | 10/01/2023

The FSA’s Daisuke Mamba and Hiroshi Ozaki discuss the regulator’s approach to its AML/CFT inspections and recent work to develop shared AML systems for the industry.

KYC & CDD

Banks Can Perform Re-KYC Process Remotely, Says RBI

By Editors | 10/01/2023

If there is no change in a customer’s KYC information, only a self-declaration is required to complete the re-KYC process.

KYC & CDD

India: KYC Becomes Mandatory for All Insurance Policies

By Editors | 08/01/2023

KYC documents have to date not been mandatory for non-life or general insurance policies at the time of purchase.

Anti-Money Laundering

NYDFS Ends Coinbase AML Probe With $100m Settlement

By Editors | 05/01/2023

The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.

Anti-Money Laundering

Dutch Banks Start Charging Customers for AML Checks

By Editors | 04/01/2023

Companies, associations, charities and churches, among others, are being charged a monthly levy to cover the rising cost of AML checks.

Fraud, Scams & Cybercrime

Anti Fraud: Korea Launches Bulk Account Suspension Service

By Editors | 04/01/2023

The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.

Structural Regulation

Hong Kong Consults on Crowdfunding Regulatory Regime 

By Sanday Chongo Kabange | 03/01/2023

A Crowdfunding Affairs Office will be set up to centrally process and coordinate regulatory and administrative matters related to crowdfunding activities.

KYC & CDD

SEC Philippines Increases Penalties for UBO Non Disclosure

By Editors | 30/12/2022

Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.