KYC & CDD

Fraud, Scams & Cybercrime

BNM Working to Streamline Industry Response to Scams

By Manesh Samtani | 05/10/2023

BNM governor Datuk Abdul Rasheed Ghaffour discussed efforts underway in Malaysia to tackle the challenges of scams.

Anti-Money Laundering

Australia’s AML/CTF Overhaul: What it Means for Real Estate Agents

By Jeremy Moller | 05/10/2023

Jeremy Moller outlines considerations for real estate agents, property managers and other organisations potentially subject to the proposed ‘Tranche 2’ reforms.

Anti-Money Laundering

Singapore Unveils Planned Measures to Strengthen AML Regime

By Manesh Samtani | 04/10/2023

The government will set up an inter-ministerial committee to review the AML regime and consider tightening rules for luxury goods, family offices and immigration.

PEPs & Sanctions

Western Allies Issue Guidance on Russia-related Export Controls

By Mark Johnston | 01/10/2023

E5 countries issue a guidance document for industry and academia on exporting commercial goods that may be subject to Russia sanctions.

KYC & CDD

Open Ownership Integrates LEI Into Beneficial Ownership Datasets

By Editors | 01/10/2023

LEIs are now embedded into Open Ownership data records, which GLEIF says will allow easier identification of corporate beneficial owners and controllers.

KYC & CDD

AUSTRAC Issues Customer Identification Guidance for Gambling Providers

By Sanday Chongo Kabange | 29/09/2023

From September 2024, online gambling providers must complete applicable customer identification procedures before offering gambling services.

KYC & CDD

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

By Editors | 27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

KYC & CDD

Philippine SEC Stresses Need for CDD on DNFBP Clients

By Sanday Chongo Kabange | 26/09/2023

Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

Anti-Money Laundering

Singapore Banks Ramp Up Scrutiny of Risky Customers – Reports

By Mark Johnston | 25/09/2023

Singapore banks are red-flagging, reviewing, restricting and/or closing accounts of customers from China, Vanuatu, Dominica, Cyprus, Cambodia, Turkey, and St Kitts and Nevis.