KYC & CDD

Structural Regulation

MAS Issues Consultation Response on FRC Framework

By Editors | 07/06/2020

Regulated entities will no longer need to seek MAS approval prior to commencing business arrangements with foreign related corporations; a 14-day ex-post notification will instead be required.

KYC & CDD

Addressing Heightened KYC Risk with Data and Automation

By Editors | 07/06/2020

Managing KYC risk assessment in a sea of increasingly complex data sets calls for smart automated solutions to manage alerts.

KYC & CDD

HKMA Offers Guidance on AML Controls for Remote Onboarding

By Manesh Samtani | 03/06/2020

The HKMA has published its observations of good practices used by authorised institutions to mitigate the potential risks of new technology adopted for remote onboarding.

KYC & CDD

Data, Technology Provide Remedy for Covid-related Financial Crime

By Editors | 01/06/2020

In a recent Bureau van Dijk webinar, industry experts examined how data, technology and AI can help mitigate the risk of criminals benefitting from the Covid-19 cash pump.

Anti-Money Laundering

PBOC Fines BNP Paribas China Unit, Three Execs for AML Violations

By Editors | 01/06/2020

The bank and three executives were fined for failing to perform customer identification obligations and report large and suspicious transactions.

PEPs & Sanctions

Humanitarian Trade with North Korea: A Matter of Trust

By Eric A. Sohn | 28/05/2020

Eric A. Sohn at Dow Jones Risk & Compliance discusses what is needed for the US to agree to a mechanism for humanitarian trade with North Korea.

Anti-Money Laundering

Are Criminals Winning at Covid-19? Not Without a Fight

By Editors | 27/05/2020

Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.

KYC & CDD

India to Tighten KYC Rules for Hong Kong, China FPIs

By Manesh Samtani | 26/05/2020

Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.

Anti-Money Laundering

Myanmar: YSX, Securities Firms Directed to Enhance AML Controls

By Editors | 25/05/2020

The YSX is asked to strengthen internal controls and establish an audit committee; six securities firms are asked to address document collection and record-keeping deficiencies.