KYC & CDD

KYC & CDD

Hong Kong, China Framework Comparison – KYC Standards

By Prasanna Venkatesan | 23/05/2019

Given the similarities between Hong Kong and China’s KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.

KYC & CDD

FSC Korea Fines Four Brokers for False Name Accounts

By Editors | 17/05/2019

South Korea’s FSC has fined four local brokerages for holding accounts belonging to Samsung Group chairman Lee Kun-hee under other people’s names.

Anti-Money Laundering

The Need for a Cross-Sector & Cross-Jurisdictional AML Regime

By Claus Christensen | 16/05/2019

It’s time to have a conversation about implementing real AML information sharing across organisations, sectors and jurisdictions, writes Claus Christensen at Know Your Customer Ltd.

KYC & CDD

Chinese Banks Instructed to Further Limit Foreign Currency Withdrawals

By Editors | 07/05/2019

Chinese banks have reduced the amount of US dollars customers can withdraw and are required to keep a watch list of clients who make frequent foreign currency withdrawals.

Cloud & Infrastructure

FIs Need to Automate to Meet Tax Reporting Obligations – Report

By Editors | 06/05/2019

As tax reporting requirements grow increasingly complex, automation is making compliance cheaper, quicker and more efficient, says a new report from Regulation Asia and BearingPoint.

Anti-Money Laundering

MAS Consults on Proposed Framework for Variable Capital Companies

By Editors | 02/05/2019

The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.

Trading & Investment

Hong Kong, China Framework Comparison – Investment Suitability

By Prasanna Venkatesan | 01/05/2019

Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare the investment suitability frameworks of Hong Kong and mainland China, and their pain points.

Anti-Money Laundering

Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking

By Editors | 26/04/2019

The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.

Anti-Money Laundering

Delayering AML – Ideal Test Field for Innovative Technologies

By Prasanna Venkatesan | 22/04/2019

AML/CFT is an ideal test field for new technologies given the risk factors and complex challenges Asian banks face, says Synpulse’s Prasanna Venkatesan.