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AML / KYC
The Four e-KYC Models Around the World
By Claus Christensen | 05/04/2020
Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
AML / KYC
FATF Re-rates US as ‘Largely Compliant’ on CDD Measures
By Editors | 03/04/2020
The US is now compliant on 9 FATF Recommendations, largely compliant on 22, partially compliant on 5, and non-compliant on 4.
AML / KYC
Doing What is Right: Financial Inclusion Needs Better Incentives
By Isabella Chase | 02/04/2020
Tools to enable financial inclusion exist, but without positive incentives to put these into practice barriers will remain, says RUSI’s Isabella Chase.
AML / KYC
FATF Encourages Technology Use to Address Covid-19 Challenges
By Editors | 01/04/2020
Criminals and terrorists may seek to exploit gaps and weaknesses in national AML/CFT systems, under the assumption that resources are focused elsewhere, the FATF says.
AML / KYC
Holding the Line on Ultimate Beneficial Ownership
By Manesh Samtani | 24/03/2020
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
AML / KYC
S. Korea Approves Revisions to Legal Framework for Crypto
By Editors | 18/03/2020
The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.
AML / KYC
S. Korea Passes New Regulatory Framework for Crypto Sector
By Editors | 11/03/2020
The ‘Special Financial Information Law’ authorises Korean financial regulators to oversee the crypto industry and develop AML rules in line with the FATF recommendations.
AML / KYC
Philippine Lawmakers Warned of Urgent Need to Pass AML Reforms
By Editors | 08/03/2020
The AMLC has urged lawmakers to quickly pass legislative amendments to address AML/CTF deficiencies to avoid being grey- or black-listed by the FATF.
AML / KYC
FATF Issues Guidance Paper on Digital Identity Systems
By Editors | 07/03/2020
The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.
AML / KYC
Trade Misinvoicing a ‘Persistent Problem’ in Developing Countries
By Editors | 05/03/2020
Think tank Global Financial Integrity found $8.7tr in misinvoiced trade in the ten years from 2008 to 2017. Trade misinvoicing is one of the largest components of global illicit financial flows.
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