All posts tagged "CDD"
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293AML / KYCSingapore: Exemptions for Foreign Offices of FIs Take Effect
Under the new 'Branch Framework', Singapore FIs have to assess whether their overseas representatives are acting on behalf of the Singapore office or the foreign office.
October 11, 2021 -
170AML / KYCGermany’s BaFin Fines N26 Over Weak AML Controls
The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.
October 8, 2021 -
216AML / KYCNew Zealand Consults on Broad Changes to AML/CFT Act
Changes being considered include the introduction of a new registration regime for all AML/CFT businesses, a licensing regime for VASPs, and direct penalties for senior managers.
October 8, 2021 -
284AML / KYCHKMA Identifies AML/CFT Gaps in Stored Value Facilities
The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.
September 28, 2021 -
722AML / KYCFATF Report Highlights Opportunities for Japan’s FIs
Matthew Field discusses how Japan's FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.
September 24, 2021 -
454AML / KYCSFC Finalises AML Guidelines for Securities Sector
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
September 16, 2021 -
242AML / KYCNZ Court Fines CLSA Premium NZ for AML/CFT Breaches
The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.
September 14, 2021 -
302AML / 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 -
207AML / KYC
FMA Identifies AML Breaches by Investment Platform Sharesies
The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.
August 24, 2021 -
414AML / KYCMAS Proposes Additional AML/CFT Requirements for FIs
MAS proposes requirements for dealings in precious stones and metals, transactions involving digital payment tokens, and customers that may be considered higher risk shell companies.
July 13, 2021
