KYC & CDD

KYC & CDD

SEBI to Allow NRIs, OCIs to Invest More in GIFT City via FPIs

By Editors | 27/08/2023

SEBI proposes to allow IFSCA regulated FPIs to accept higher levels of investment from Indian citizens residing overseas.

Tokenisation

HKMA to Explore Regulatory Changes to Promote Bond Tokenisation

By Sanday Chongo Kabange | 26/08/2023

The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.

Fraud, Scams & Cybercrime

How AI Can Combat Financial Crime

By Ranamita Chakraborty | 24/08/2023

Industry experts tell Regulation Asia how the financial sector’s battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.

Anti-Money Laundering

Wolfsberg Group Responds to FATF Consultation on NPO Standards

By Sanday Chongo Kabange | 23/08/2023

It says NPOs should be required to conduct their own risk assessments and deploy risk-based controls similar to those used by correspondent banks.

Fraud, Scams & Cybercrime

India Tightens Rules on SIM Card Registration to Combat Fraud

By Editors | 22/08/2023

India’s one million SIM card dealers will have to undergo a mandatory verification and registration process within one year.

Anti-Bribery & Corruption

Hong Kong Court Jails Three Former DBS Bankers

By Editors | 20/08/2023

The DBS employees were convicted for divulging confidential information of over 680 customers to others for touting personal loans.

Anti-Money Laundering

NZ DIA Warns Money Remitters on Using Third-Party Accounts

By Sanday Chongo Kabange | 17/08/2023

Money remitters are using third-party bank accounts to deliver their money remittance services without advising the bank of this purpose.

KYC & CDD

HKMA Fines EFG Bank Over AML Control Deficiencies

By Editors | 15/08/2023

The bank failed to complete identity verification for customers that were transferred in from another FI and had other issues related to CDD and ongoing monitoring.

KYC & CDD

SEBI Streamlines KYC Process for Securities Market Onboarding

By Editors | 14/08/2023

SEBI directs KRAs to verify client information so that they gain portability, and clients to skip repetitive KYC steps with different intermediaries.