KYC & CDD

Anti-Money Laundering

European Commission Presents Package of AML/CFT Reforms

By Editors | 23/07/2021

A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.

PEPs & Sanctions

US Government Warns Of Rising Business Risk in Hong Kong

By Editors | 18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

KYC & CDD

NZ FMA Issues New Guidance on Electronic ID Verification

By Editors | 18/07/2021

A new Explanatory Note identifies electronic sources of information that reporting entities can use for identity verification.

Anti-Money Laundering

Japan FSA, BOJ to Assess AML, Anti-fraud Measures at FIs

By Manesh Samtani | 14/07/2021

The FSA and BOJ are reportedly looking to better understand whether AML, anti-fraud, and cybersecurity measures at FIs are adequate.

Anti-Money Laundering

New Zealand to Update AML/CFT Regulations

By Editors | 14/07/2021

Reporting entities will have to conduct customer due diligence on nominee directors and nominee general partners of companies, among other changes.

KYC & CDD

Covid-19 Forced Companies to Short-cut KYC, Due Diligence

By Ranamita Chakraborty | 13/07/2021

A new Refinitiv report has found that Covid-19 substantially increased customer and third-party risks. Yet it also increased focus on ESG and green crime.

Anti-Money Laundering

MAS Proposes Additional AML/CFT Requirements for FIs

By Manesh Samtani | 13/07/2021

MAS proposes requirements for dealings in precious stones and metals, transactions involving digital payment tokens, and customers that may be considered higher risk shell companies.

Anti-Money Laundering

NZ Issues AML/CFT Advisory On Sight Unseen Property Purchases

By Ranamita Chakraborty | 13/07/2021

Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.

KYC & CDD

BNM Allows MSBs to Onboard Corporate Customers Remotely

By Sanday Chongo Kabange | 12/07/2021

A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.