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Fintech / Regtech
EU Lawmakers Vote to Adopt KYC Rules for Unhosted Crypto Wallets
By Darien Choong | 04/04/2022
The European Parliament voted to adopt requirements for crypto firms to gather and verify personally identifiable information of users of unhosted crypto wallets.
AML / KYC
Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds
By Manesh Samtani | 31/03/2022
Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.
AML / KYC
Wolfsberg Group Issues Guidance on Managing Customer Risk
By Manesh Samtani | 29/03/2022
FIs should consider building “more holistic” customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.
AML / KYC
New Zealand Pledges to Enhance Beneficial Ownership Transparency
By Manesh Samtani | 23/03/2022
A new bill will require companies to provide accurate beneficial ownership information. A unique identifier will be assigned to all beneficial owners and directors.
AML / KYC
FATF Spotlights ML/TF Risks Associated with Migrant Smuggling
By Manesh Samtani | 23/03/2022
Financial institutions have an important role to play in helping authorities profile migrant smugglers’ financial behaviour, the FATF says in a new report.
Fintech / Regtech
Dubai Establishes New Law, Regulator for Crypto Assets
By Mark Johnston | 16/03/2022
The new law comes as crypto firms in the UAE receive streams of requests from sanctioned Russians to liquidate billions of dollars of crypto assets.
AML / KYC
INTERPOL Launches Financial Crime and Anti-Corruption Centre
By Editors | 16/03/2022
The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.
AML / KYC
FATF Plenary Finalises New Beneficial Ownership Requirements
By Manesh Samtani | 06/03/2022
Plenary adopts amendments to Recommendation 24, approves revised methodology for mutual evaluations, publishes draft guidance for real estate sector.
AML / KYC
FATF Concerned About Impact of Ukraine Invasion on Risk Environment
By Editors | 06/03/2022
Russia’s actions run counter to the FATF core principles. The FATF is reviewing Russia’s role at the FATF and will consider steps to uphold its core values.
AML / KYC
GCFFC Offers Recommendations on Improving FATF Mutual Evaluations
By Manesh Samtani | 03/03/2022
Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.
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