KYC & CDD

Anti-Money Laundering

RUSI Publishes Virtual Assets Risk Assessment Guide

By Editors | 12/08/2023

The guide offers a ‘virtual assets risk assessment framework’, as well as risk mitigation strategies and best practices.

KYC & CDD

Bangladesh Banks Directed to Simplify Account Opening for NRBs

By Editors | 12/08/2023

Banks are directed to launch digital systems to enable non-resident Bangladeshis to open accounts and invest in the country from overseas.

KYC & CDD

Korea to Reduce Document Burden of Account Opening

By Mark Johnston | 11/08/2023

Regulators will improve the ability of individuals and businesses to open bank accounts and ease the limits placed on transfers and withdrawals.

Anti-Money Laundering

US Senators Reintroduce Digital Asset Anti-Money Laundering Act

By Editors | 10/08/2023

The bill, if enacted, would require firms to start reporting crypto transactions exceeding $10,000 after 18 months.

KYC & CDD

AUSTRAC to Implement Pre-verification Requirement for Online Gambling

By Editors | 08/08/2023

Identification verification procedures must be carried out before online gambling services are provided to customers, starting 29 September.

Anti-Money Laundering

US SEC Flags Deficiencies in Broker Dealer AML Programmes

By Editors | 03/08/2023

Some broker dealers had deficiencies in independent testing, staff training, customer identification and due diligence practices.

Fraud, Scams & Cybercrime

SEBI Proposes Revising Account Aggregator Framework to Prevent Fraud

By Ranamita Chakraborty | 03/08/2023

Securities and Exchange Board of India (SEBI) found that certain consumers are sharing confidential information with third parties and providing financial data to unauthorised entities.

Anti-Bribery & Corruption

HK Court Convicts 4 Ex-DBS Employees on Bribery Charges

By Sanday Chongo Kabange | 01/08/2023

The four former DBS employees were convicted for divulging confidential customer data to others for touting personal loans.

Fraud, Scams & Cybercrime

Taiwan Telecoms Fined for Failing to Prevent Exploitation by Scammers

By Sanday Chongo Kabange | 28/07/2023

Taiwan Star and Strait-Telecom were fined for failing to check and verify the identities of service applicants, a breach of the Telecommunications Management Act.