KYC & CDD

KYC & CDD

Hong Leong Bank Launches Digital Account Opening

By Editors | 08/10/2020

Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.

Cloud & Infrastructure

Sri Lanka: CBSL to Introduce Fintech Regulatory Framework

By Duruthu E Chandrasekera | 05/10/2020

The central bank set up a fintech sandbox in February but no companies have applied to participate so far, officials told Regulation Asia.

KYC & CDD

RegTech Asia 2020: Digital Identity, Benefits & Challenges

By Editors | 05/10/2020

How can digital identity enable real-time risk management, what are its other use cases, and what are the challenges to adoption?

KYC & CDD

RegTech Asia 2020: Digital KYC, Onboarding & Authentication

By Editors | 04/10/2020

Digital transformation has accelerated in financial services amid the pandemic. But it has not come without risks.

Anti-Money Laundering

BitMEX Founders Charged for Evading AML Requirements

By Editors | 03/10/2020

Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

Conduct, Culture & Accountability

HKMA Directs Banks to Review, Enhance Sales Practices

By Manesh Samtani | 02/10/2020

A mystery shopping programme has identified product disclosure, risk profiling, and suitability assessment as some of the key areas where improvement is needed.

Anti-Money Laundering

Taiwan to Set New AML/CFT Rules for Accountants

By Editors | 01/10/2020

Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

KYC & CDD

GLEIF Defines New Framework to Simplify, Accelerate LEI Issuance

By Manesh Samtani | 29/09/2020

Many of the labor intensive and time-consuming procedures performed to obtain an LEI are the same as those performed by the FI during onboarding.

Trading & Investment

BSP Approves Sale of Unit Investment Trust Funds via Third Parties

By Editors | 26/09/2020

New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.