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News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.
Anti-Money Laundering
SFC to Require OFCs to Appoint Responsible Person for AML
By Editors | 23/12/2020
The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
KYC & CDD
RBI Announces Extension of KYC Registry to Legal Entities
By Editors | 22/12/2020
The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.
KYC & CDD
Regulation Asia: Top Ten Contributed Articles for 2020
By Editors | 22/12/2020
This list presents the most-read contributed articles published by Regulation Asia in 2020, based on aggregated user traffic analytics.
KYC & CDD
Hong Kong Set to Tighten Rules for Digital Wallets July 2021
By Editors | 15/12/2020
Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.
KYC & CDD
Regulation Asia Awards for Excellence 2020 – Results Announcement
By Editors | 15/12/2020
Regulation Asia held its third annual Awards ceremony on 15 December 2020 to recognise those in the industry that have helped address changing regulatory requirements in Asia Pacific over the past year.
PEPs & Sanctions
Dow Jones Risk & Compliance Wins Best Solution in PEPs, Sanctions Screening
By Editors | 15/12/2020
Dow Jones Risk & Compliance offers comprehensive screening for PEPs, sanctions risk, and adverse media, allowing for integration with existing workflows and providing certainty on risk.
Anti-Money Laundering
Napier Wins Best Solution in AML/CTF Compliance
By Editors | 15/12/2020
Napier’s solution brings together transaction monitoring, payment screening and client screening into a single integrated platform where KYC data is easily accessible by compliance teams.
KYC & CDD
SWIFT Recognised for KYC Registry, Sanctions Testing Service
By Editors | 15/12/2020
SWIFT offers a secure platform that streamlines the collection of predefined KYC information, and a service to test FIs’ sanctions screening systems for effectiveness.
KYC & CDD
Fenergo Awarded Best Solution in Client Lifecycle Management
By Editors | 15/12/2020
Fenergo provides a unique combination of a sophisticated regulatory rules engine, an advanced workflow tool, and an entity data and document management solution.
KYC & CDD
Exiger Wins Best Solution in Enhanced Due Diligence
By Editors | 15/12/2020
Exiger uses an AI-based automated due diligence solution to accelerate customer screening, enhance risk assessment, and provide a complete picture of risk.
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