KYC & CDD

Anti-Money Laundering

AML in Japan: Looking Back to Look Forward

By Hiroshi Ozaki | 09/11/2022

The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.

Anti-Money Laundering

Australia Consults on New Beneficial Ownership Disclosure Regime

By Manesh Samtani | 08/11/2022

The first phase will require specified entities regulated under the Corporations Act to maintain accurate, up‑to‑date and publicly accessible beneficial ownership registers.

Anti-Money Laundering

IFSCA Issues AML/CFT Guidelines for GIFT City Regulated Entities

By Editors | 07/11/2022

The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.

KYC & CDD

AUSTRAC Issues Updated Guidance on Due Diligence Obligations

By Editors | 04/11/2022

The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.

Anti-Money Laundering

FATF Consults on New Draft Guidance on Beneficial Ownership

By Editors | 03/11/2022

The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.

KYC & CDD

NZ DIA Updates CCD Guidance to Address Nominee Structures

By Sanday Chongo Kabange | 01/11/2022

Reporting entities “must” take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.

Anti-Money Laundering

Wolfsberg Group Updates Guidance on Correspondent Banking

By Editors | 28/10/2022

The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.

Clearing & Post-Trade

Don’t Overlook the Value of LEI

By Joseph Capablanca | 28/10/2022

DTCC’s Joseph Capablanca discusses the importance of the LEI for improving transparency, cutting costs, and reducing operational risk in the global financial industry.

AI Risk & Governance

NLP for Regulatory Compliance: A Question of When, Not If

By Irene Liu | 27/10/2022

Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.