ADVERTISEMENT
KYC & CDD
News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.
Fraud, Scams & Cybercrime
Korean Securities Firms, Savings Banks to Start Compensating Fraud Victims
By Manesh Samtani | 16/12/2024
Korean banks already implemented a similar compensation system for non-face-to-face financial fraud from 1 January 2024.
Anti-Money Laundering
AUSTRAC Launches Consultation on New AML/CTF Rules Framework
By Manesh Samtani | 12/12/2024
This consultation covers several areas including AML/CTF programmes, risk assessments, customer due diligence and travel rule information requirements.
KYC & CDD
RBNZ Calls on Banks to Enhance Financial Inclusion Initiatives
By Sanday Chongo Kabange | 11/12/2024
The RBNZ identified good practices for deposit takers to consider embedding in their current practices to support financial inclusion.
Anti-Money Laundering
US Lawmakers Allege Widespread Abuse of BSA for Surveillance
By Thisanka Siripala | 11/12/2024
The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.
KYC & CDD
Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies
By Sanday Chongo Kabange | 09/12/2024
Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.
KYC & CDD
FATF Should Recognise ‘Alternative Measures’ to Promote Inclusion
By Manesh Samtani | 09/12/2024
The Wolfsberg Group says the FATF standards should explicitly recognise and encourage “alternative measures” such as limited-purpose account types and tailored monitoring.
PEPs & Sanctions
DBS Expands Team Handling Russian Wealth Assets – Report
By Editors | 07/12/2024
DBS said every client is treated on his or her own merits and that the bank does not deal with sanctioned individuals.
Fraud, Scams & Cybercrime
Australian Lawmakers Call for Reforms to Address Financial Abuse
By Thisanka Siripala | 07/12/2024
Parliamentary report calls for legislative reforms and for FIs to play a proactive role in identifying and supporting individuals facing financial abuse
KYC & CDD
US Federal Court Blocks FinCEN’s Beneficial Ownership Reporting Rule
By Nithya Subramanian | 05/12/2024
The ruling blocks enforcement of the Corporate Transparency Act, suspending the obligation for corporate entities to meet the 1 January 2025 filing deadline.
Fraud, Scams & Cybercrime
Taiwan Executive Yuan Approves “Version 2.0” Anti-Fraud Action Plan
By Manesh Samtani | 03/12/2024
The FSC also issued new regulatory guidelines for FIs and VASPs on preventing the fraudulent use of financial services.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.