All posts tagged "Beneficial Owners"
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326AML / KYCFATF Seeks Views on Improvements to Recommendation 25
The review is intended to improve Recommendation 25 and its Interpretive Note to better meet its stated objective to prevent the misuse of legal arrangements.
July 1, 2022 -
1.5KAML / KYCThe Future of AML Auditing is Increasingly Digital
A shift to digital-first AML auditing and more open communications will improve efficiency and effectiveness for regulators and regulated entities alike, writes Claus Christensen.
April 4, 2022 -
428AML / KYCNew Zealand Pledges to Enhance Beneficial Ownership Transparency
A new bill will require companies to provide accurate beneficial ownership information. A unique identifier will be assigned to all beneficial owners and directors.
March 24, 2022 -
958AML / KYCPBOC Finalises CDD Rules, Launches Nationwide AML Campaign
New rules effective from 1 March impose stricter requirements on beneficial owner identification and verification, including for non-bank financial firms.
January 27, 2022 -
575AML / KYCHKMA Fines ePaylinks Technology for AML/CTF Breaches
SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.
December 21, 2021 -
1.3KAML / KYC
HKMA Penalises Four Banks for AML Violations
ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.
November 22, 2021 -
393AML / KYCInconsistent AML Approaches Cause Cross-border Payment Frictions
The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.
October 23, 2021 -
450AML / KYCPhilippine AMLC Asks Firms to Provide UBO Information in STRs
The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.
September 10, 2021 -
34.4KAML / KYCUS Real Estate the ‘Preferred’ Money Laundering Destination: GFI
Lawyers, real estate agents, investment advisers, and bank employees have repeatedly facilitated money laundering through US real estate by HNWIs and PEPs.
August 13, 2021 -
189AML / KYCNZ Issues AML/CFT Advisory On Sight Unseen Property Purchases
Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.
July 13, 2021
