All posts tagged "AML"
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248AML / KYCGlobal Regulation Continues to Increase KYC Complexity – Accuity
The KYC process has become increasingly complex, with rising costs, onerous processes and a skills shortage presenting challenges for compliance staff, says an Accuity report.
September 18, 2018 -
542FeatureMAS Finalises New Corporate Structure for Funds
The VCC – formerly S-VACC – will position Singapore to become a key fund domicile for fund managers and create opportunities for fund services providers.
September 11, 2018 -
633AML / KYCWhat You Need to Know About the EU’s 5th AML Directive
The Fifth Money Laundering Directive (5MLD) will come into force on the 10 January 2020, with far-reaching impacts aimed at addressing weaknesses in the EU's AML/CFT regime that have come to light since the enactment of 4MLD in June 2017.
September 5, 2018 -
177AML / KYCConvicted Finance Director Sentenced in New Zealand For AML Breaches
New Zealand-based finance director sentenced to six months of community detention after being found negligent in following AML laws and reportedly laundering NZ$500,000 to conceal a major drug trade.
September 4, 2018 -
237AML / KYCSFC Urges Licensed Firms To Strengthen AML/CFT Measures
Hong Kong firms need to step up AML/CFT compliance keeping in mind deficiencies and gaps found during the regulator’s thematic reviews and on-site exceptions.
September 3, 2018 -
818AML / KYCSingapore’s UOB Integrates Machine Learning in AML Systems
Collaboration with regtech firm Tookitaki has enabled deeper and broader analyses of data sets which can be applied to all processes within AML framework.
August 24, 2018 -
595AML / KYCHKMA Reprimands, Fines Shanghai Commercial Bank for AML/CFT Failures
The bank was fined HK$5mn for ineffective procedures for continuous monitoring of business relationships and due diligence on pre-existing customers.
August 20, 2018 -
594AML / KYCJapanese Regional Banks to Set Up AML Information Sharing
An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.
August 16, 2018 -
174Asia-PacificPhilippines Proposes Regulatory Framework for ICOs
Draft rules propose issuers undergo initial assessment to determine if ICO tokens are securities; security tokens must be registered with the SEC and proceeds must be maintained in escrow.
August 9, 2018 -
269AML / KYCPhilippines, Indonesia to Cooperate on AML/CFT
The governors of BSP and BI signed an MoU to cooperate on AML and CFT for payment and settlement systems, focusing on policy dialogue, information exchange and capacity building.
August 6, 2018
