The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
December 24, 2020The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.
December 2, 2020The KYC facility will improve CDD processes and AML/CFT compliance, and support the provision of correspondent banking services to Pacific Island nations.
November 22, 2020The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.
October 13, 2020Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.
September 25, 2020In its latest typologies report, the APG says Covid-19 may provide a unique opportunity for law enforcement and FIUs to detect and disrupt certain money laundering operations.
September 21, 2020SVF licensees are given until 2 July 2021 to implement appropriate measures consistent with the revised guideline, which includes guidance on remote on-boarding.
September 21, 2020The proposed amendments seek to align the SFC's guidelines with the FATF guidance for adopting a risk-based approach in the securities sector.
September 21, 2020The SFC will remove investment restrictions, expand custodian eligibility requirements, and introduce a statutory re-domiciliation mechanism.
September 3, 2020CLSA Premium NZ failed to adequately conduct customer due diligence, terminate certain business relationships, report suspicious transactions, and maintain records.
June 24, 2020