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News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.
KYC & CDD
Appway Wins Best Solution in Customer Onboarding for a Second Year
By Editors | 14/11/2019
Appway has been awarded the Best Solution in Customer Onboarding.
KYC & CDD
Fenergo Wins Best Solution in Regulatory Change Management
By Editors | 14/11/2019
Fenergo has won Best Solution in Regulatory Change Management and was highly commended in the Customer Onboarding.
KYC & CDD
Wealth Dynamix Recognised for Innovative Client Lifecycle Management Solution
By Editors | 14/11/2019
Wealth Dynamix has been recognised as ‘One to Watch’ for its Client Lifecycle Management solution.
Anti-Money Laundering
BCBS Updates AML/CFT Guidance for Correspondent Banking
By Editors | 10/11/2019
The revisions update the list of risk indicators banks should use to conduct risk assessments and specify conditions for using KYC utilities for obtaining customer information.
KYC & CDD
SEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC
By Editors | 08/11/2019
Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
KYC & CDD
OCBC Enables Instant Bank Account Opening for Startups
By Editors | 05/11/2019
OCBC Enables Instant Bank Account Opening for Startups
PEPs & Sanctions
Malaysian Banks Force Closures of Iran-linked Accounts
By Editors | 02/11/2019
CIMB and Maybank are two of the largest banks forcing closures of accounts belonging to Iranian companies and individuals, amid new sanctions imposed by the US.
KYC & CDD
FATF Issues Draft Guidance on Digital Identity Systems
By Manesh Samtani | 31/10/2019
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
KYC & CDD
Bangladesh to Launch e-KYC for Bank Account Opening in January
By Editors | 31/10/2019
Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.
Anti-Money Laundering
FATF Begins Assessment of Japan’s AML Regime
By Editors | 30/10/2019
For the first time, cryptocurrency exchanges will also subject to the review, the first assessment of Japan’s AML system in 11 years.
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