ASIA/PACIFIC GROUP ON MONEY LAUNDERING

AML / KYC

FATF Commends Korea, Warns Pakistan, Blacklists Iran

By Manesh Samtani | 24/02/2020

Korea has a sound legal and institutional framework. Pakistan is asked to complete its action plan. Countermeasures against Iran are reinstated.

AML / KYC

Bangladesh Publishes New National AML/CFT Strategy

By Editors | 23/11/2019

The national strategy contains 11 strategies along with 137 action plans, aimed at eliminating gaps identified in the 2016 mutual evaluation report from the APG.

AML / KYC

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

By Editors | 23/10/2019

Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

AML / KYC

FATF Releases Mutual Evaluation Report for Hong Kong

By Manesh Samtani | 04/09/2019

Hong Kong needs to enhance prosecution of money laundering involving crimes committed abroad and strengthen supervision of certain non-financial businesses.

AML / KYC

Taiwan to Ease AML Requirements for Low Risk Clients

By Editors | 03/01/2019

The majority of banks’ clients pose low money laundering risks, and should not be subject to the same level of scrutiny as high risk clients, said FSC chairman Wellington Koo.

AML / KYC

Taiwan FSC to Amend Rules on Beneficiary Disclosure

By Editors | 20/12/2018

Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.

AML / KYC

Taiwan’s Progress Impresses APG, Despite Some Shortcomings

By Manesh Samtani | 19/11/2018

The APG was reportedly impressed by Taiwan’s performance during its third round of mutual evaluations, which concluded last week.

AML / KYC

Malaysia has ‘Robust’ AML/CFT Framework – APG-FATF

By Editors | 01/11/2018

More actions needed to further strengthen the framework, including a greater focus on terrorist financing risk from the private sector and foreign source threats.

AML / KYC

Taiwan FIs Need to Be Prepared for APG Mutual Evaluation – FSC

By Editors | 26/10/2018

The Asia/Pacific Group on Money Laundering will conduct its mutual evaluation of Taiwan and its financial institutions from 5 November until 16 November.