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AML / KYC
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
AML / KYC
FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan
By Manesh Samtani | 23/10/2022
Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.
AML / KYC
Philippine May Pass Bank Secrecy Law Amendments Next Month
By Editors | 20/10/2022
The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.
AML / KYC
IMF Publishes Guide to Beneficial Ownership Transparency
By Editors | 18/10/2022
Despite guidance issued by the FATF over the years, effective implementation of beneficial ownership requirements is still a challenge for many countries, says the IMF’s Bo Li.
AML / KYC
Japan Cabinet Passes Bill to Strengthen AML System
By Editors | 18/10/2022
Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.
AML / KYC
Switzerland to Commence Work on Creating UBO Register
By Editors | 14/10/2022
A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.
Market Infrastructure
FSB Unveils Plans for Next Phase of Cross-Border Payments Work
By Editors | 11/10/2022
The prioritisation plan emphasises a need to strengthen external engagement and partnerships to take forward the roadmap for enhancing cross-border payments.
AML / KYC
Singapore Government Publishes New National CTF Strategy
By Editors | 09/10/2022
A national risk assessment found remittance agents and banks to be the most vulnerable. MAS will develop new guidance for both sectors.
AML / KYC
Singapore Passes Amendments to Accountants Act
By Manesh Samtani | 06/10/2022
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
AML / KYC
FinCEN Issues Final Rule for Beneficial Ownership Reporting
By Editors | 30/09/2022
The rule is effective from 1 January 2024. Existing companies will have one year to report information about their beneficial owners to FinCEN.
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