KYC & CDD

Anti-Money Laundering

Implementing AML Rules on Luxury Assets can be Challenging

By Nithya Subramanian | 17/10/2023

While banks may have to dedicate more resources to track financial violations, local dealers too will have to be vigilant, said Navin Naidu.

Anti-Money Laundering

SEBI Revises AML Guidelines for Securities Market Intermediaries

By Mark Johnston | 13/10/2023

The revisions lower the shareholding threshold for partners of a firm to be considered as beneficial owners from 15 to 10 percent, among other changes.

KYC & CDD

Bank of Baroda Ordered to Halt Mobile App Onboarding

By Editors | 13/10/2023

The action comes after it was reported in July that some bank employees onboarded fake customers to meet sign-up targets.

Anti-Money Laundering

Malaysia to Enhance Beneficial Ownership Reporting Requirements

By Editors | 11/10/2023

Companies will have to keep and maintain a register of beneficial owners at their registered offices and report any changes within 14 days.

PEPs & Sanctions

BSP Highlights Importance of PEPs Due Diligence

By Sanday Chongo Kabange | 11/10/2023

Domestic and international organisation PEPs, unlike foreign PEPs, are not automatically considered as high risk.

Fraud, Scams & Cybercrime

Singapore Police Working With Meta to Stop Scams – Report

By Editors | 11/10/2023

The police are working with Meta to terminate WhatsApp lines believed to be used in scams and remove suspicious ads on Facebook and Instagram.

KYC & CDD

US SEC Adopts Shorter Deadlines for Reporting Beneficial Ownership

By Editors | 10/10/2023

Investors will be required to report in five days rather than ten days if they beneficially own more than 5 percent of a stock.

Structural Regulation

HK Wealth Firms See Regulatory Environment Improving

By Manesh Samtani | 09/10/2023

More than 80% of PWMA member firms surveyed expect the new framework for sophisticated professional investors to bring a positive impact.

Fraud, Scams & Cybercrime

Korea Issues New Standards for Fraud Prevention, Loss Sharing

By Manesh Samtani | 08/10/2023

19 banks have agreed to compensate customers for unauthorised transactions based on the sufficiency of their prevention efforts and the degree of customer negligence.