KYC & CDD

Anti-Money Laundering

SFC Finalises AML Guidelines for Securities Sector

By Manesh Samtani | 15/09/2021

The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.

PEPs & Sanctions

DPRK ‘Launders’ Vessel Identities to Evade Sanctions: C4ADS

By Editors | 15/09/2021

C4ADS says fraudulent ship registrations created with the IMO are being used to ‘launder’ the identity of vessels associated with illicit activities.

Anti-Money Laundering

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

Anti-Money Laundering

NAB Examining Data on 9m Customers to Plug AML, KYC Gaps

By Ranamita Chakraborty | 13/09/2021

Chief executive Ross McEwan outlined NAB’s work to update KYC information for all its customers as part of efforts to meet its AML obligations.

PEPs & Sanctions

Philippine SEC Disseminates Guidance on Targeted Financial Sanctions

By Editors | 12/09/2021

The guidance now covers targeted financial sanctions related to terrorism, terrorism financing, and proliferation financing, including remedies and relevant UNSC links.

Anti-Money Laundering

Philippine AMLC Asks Firms to Provide UBO Information in STRs

By Sanday Chongo Kabange | 10/09/2021

The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.

KYC & CDD

Taiwan to Revise Authentication Rules to Facilitate Digital Banking

By Editors | 10/09/2021

The new rules allow banks to use biometric authentication methods to fulfill identity authentication requirements for internet-based applications.

Anti-Money Laundering

Singapore Court Jails Russian National for Deceiving Banks

By Sanday Chongo Kabange | 09/09/2021

The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.

Anti-Bribery & Corruption

Hong Kong ICAC Charges Ex-HSBC Banker for Accepting Bribes

By Editors | 09/09/2021

The bribes were paid as an inducement to or reward for the ex-banker to conceal the identity of the ultimate controller of two SMEs that obtained loans from HSBC.