KYC & CDD

Anti-Money Laundering

MAS Requiring Family Office Applicants to Respond to Queries Faster

By Ranamita Chakraborty | 27/03/2024

A 30-day deadline is being reportedly imposed for responses to queries from the regulator. Late responses could result in application dismissal.

KYC & CDD

ASIC Takes First Action for Failure to Obtain Director ID

By Sanday Chongo Kabange | 26/03/2024

Under 2021 reforms, all directors are required to verify their identities with Australian Business Registry Services and obtain a director ID.

KYC & CDD

HK-based Certizen Technology Becomes LEI Validation Agent

By Editors | 26/03/2024

Certizen Technology’s new status will help to ease and streamline LEI issuance, allow LEI data elements to be embedded in digital certificates, and help promote cross-border trade.

Payments & Settlements

Australia’s High Value Clearing System Has Adopted ISO 20022

By Mark Johnston | 25/03/2024

The transition was one of the “largest and most complex programmes of work AusPayNet has undertaken to date in-house,” said CEO Andy White.

Fraud, Scams & Cybercrime

Malaysia Sees 5x Increase in Online Financial Scam Reports

By Ranamita Chakraborty | 22/03/2024

BNM is working with the financial sector and law enforcement on improving fund tracing, disrupting fraudulent fund flows, and raising awareness.

Anti-Money Laundering

Top HK Official Addresses Frozen Remittances in Mainland China

By Editors | 21/03/2024

94 of 161 cases of frozen remittances from 2023 have been resolved as a result of the Customs and Excise Department’s intervention and bilateral negotiation.

Alternative Markets

SEBI Approves Proposal to Allow AIFs to Pledge Equity Shares

By Ajoy K Das | 20/03/2024

SEBI also approved a proposal to require AIFs to carry out specific due diligence of their investors and investments, to enhance trust in the AIF system.

KYC & CDD

PBOC Revises Complaints Handling Procedures for Credit Reporting

By Editors | 20/03/2024

The revised procedures will improve convenience for complainants, reduce the cost of complaints, and help consumers safeguard their credit rights, the PBOC said.

Cryptocurrency

SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

By Sanday Chongo Kabange | 18/03/2024

This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.