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AML / KYC
NZ FMA Toughens Approach to AML Non-Compliance
By Manesh Samtani | 30/09/2021
The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.
AML / KYC
FATF Report Highlights Opportunities for Japan’s FIs
By Matthew Field | 24/09/2021
Matthew Field discusses how Japan’s FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.
AML / KYC
SFC Finalises AML Guidelines for Securities Sector
By Manesh Samtani | 15/09/2021
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
AML / KYC
German Finance, Justice Ministries Raided in Probe of FIU
By Sanday Chongo Kabange | 15/09/2021
The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.
AML / KYC
Philippine AMLC Asks Firms to Provide UBO Information in STRs
By Sanday Chongo Kabange | 10/09/2021
The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.
AML / KYC
FATF Releases Mutual Evaluation Report for Japan
By Manesh Samtani | 30/08/2021
The report says more needs to be done to combat organised crime and WMD proliferation risks, and a joint-agency body should be designated for setting national AML/CFT policies.
AML / KYC
APG Releases 2021 Typologies Report, Case Studies
By Editors | 26/08/2021
The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.
Fintech / Regtech
FSC Korea to Establish Virtual Asset Division Within KoFIU
By Sanday Chongo Kabange | 17/08/2021
The new division will oversee the adoption and implementation of the FATF recommendations on digital assets and VASPs.
AML / KYC
HKMA Issues “Mandate” for Innovation in AML/CFT
By Manesh Samtani | 12/08/2021
The HKMA will launch interactive lab sessions to experiment with new technologies and emerging data analytics techniques, with an initial focus on network analytics and NLP.
AML / KYC
DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021
By Sanday Chongo Kabange | 11/08/2021
In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.
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