KYC & CDD

Anti-Money Laundering

Improving Outcomes with Entity-Centric AML

By NICE Actimize | 29/04/2022

Enrich the full AML value chain For decades, financial services organisations (FSOs) have struggled to understand their customers’ financial risk […]

KYC & CDD

FCA Directs Challenger Banks to Bolster FCC Controls

By Editors | 26/04/2022

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

Anti-Money Laundering

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

Cryptocurrency

European Crypto Firms Push Back Against Proposed Regulations

By Editors | 24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

Payments & Settlements

Thailand Relaxes Foreign Exchange Regulations for Businesses

By Editors | 24/04/2022

The BOT is scrapping a $50mn annual limit on lending to unaffiliated companies in foreign countries, as well as limits on purchases of overseas real estate.

Anti-Money Laundering

Countries Must ‘Redouble Efforts’ to Fight Financial Crime: FATF

By Manesh Samtani | 19/04/2022

The FATF finds that countries have made “huge progress” in improving technical compliance, but many still face substantial challenges in taking effective action.

Trade Based Money Laundering

APAC Banks Need to Increase Vigilance to TBML Risks

By Editors | 19/04/2022

Panellists at a recent Regulation Asia webinar discussed the need for greater vigilance to TBML risks and how workflow enhancements can improve outcomes.

KYC & CDD

AIST Seeks Clarity on SoF, SoW Expectations for Super Funds

By Editors | 18/04/2022

AIST is asking AUSTRAC to recognise that super funds are presented with lower risks than other reporting entities, and to align its expectations for SoF and SoW checks accordingly.

Anti-Money Laundering

FSA Offers Update on Work to Strengthen Japan’s AML System

By Manesh Samtani | 17/04/2022

Discussions are underway on the implementation of a new shared transaction monitoring and screening system. A new ‘beneficial ownership list system’ has been established.