KYC & CDD

Anti-Money Laundering

FATF Encourages Technology Use to Address Covid-19 Challenges

By Editors | 01/04/2020

Criminals and terrorists may seek to exploit gaps and weaknesses in national AML/CFT systems, under the assumption that resources are focused elsewhere, the FATF says.

KYC & CDD

BSP Relaxes KYC Norms During Covid-19 Lockdown

By Editors | 01/04/2020

The move will facilitate the delivery of welfare funds to beneficiaries who have no available valid IDs or transactional account with any financial institution.

Structural Regulation

SEBI Extends Implementation Timelines on Key Market Reforms

By Editors | 31/03/2020

The new stewardship code for mutual funds is deferred three months. Portfolio managers, AIFs, and VC funds have two more months to comply with new disclosure requirements.

KYC & CDD

RBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown

By Editors | 30/03/2020

Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.

KYC & CDD

Holding the Line on Ultimate Beneficial Ownership

By Manesh Samtani | 24/03/2020

Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.

KYC & CDD

Moving to a Continuous KYC Process

By Greg Watson | 23/03/2020

Greg Watson discusses how to streamline KYC reviews and move from regular 1-3-5 year reviews to perpetual KYC, managed-by-exception.

Payments & Settlements

RBI Brings Payment Aggregators Under Regulatory Remit

By Editors | 19/03/2020

The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.

Anti-Money Laundering

Australia: Senate Committee Backs Passage of AML Amendments

By Editors | 12/03/2020

The bill allows firms to rely on KYC performed by third parties, strengthens correspondent banking protections, and promotes greater use of financial intelligence to combat financial crime.

Trading & Investment

Myanmar to Open Stock Market to Foreign Investors from 20 March

By Editors | 09/03/2020

Both resident and non-resident foreign investors, including overseas brokers and banks, will be allowed to open securities accounts with local brokers to trade on the Yangon Stock Exchange.