All posts tagged "CDD"
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289AML / KYCMAS Publishes Responses to VCC Consultation Papers
VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.
January 16, 2020 -
1.2KAML / KYCMalaysia Replaces AML/CFT Framework with Two Policy Documents
The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.
January 3, 2020 -
470AML / KYCHKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings
Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.
December 17, 2019 -
724AML / KYCSingapore Re-Rated on Four FATF Recommendations
Singapore is still rated 'partially compliant' on three FATF Recommendations for technical compliance, and will remain in enhanced follow-up.
November 19, 2019 -
708AML / KYCBCBS Updates AML/CFT Guidance for Correspondent Banking
The revisions update the list of risk indicators banks should use to conduct risk assessments and specify conditions for using KYC utilities for obtaining customer information.
November 11, 2019 -
1.3KAML / KYCFATF Issues Draft Guidance on Digital Identity Systems
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
November 1, 2019 -
943AML / KYCAustralia Introduces Bill to Ease CDD Compliance Burden
The bill allows reporting entities to rely on CDD procedures performed by a third party. Meanwhile, a bill to limit cash payments to A$10,000 nationwide passes the lower house.
October 28, 2019 -
402Asia-PacificThailand SEC Approves First ICO Portal
Under Thailand's regulatory framework, 'ICO portals' help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.
October 23, 2019 -
575AML / KYCNew Zealand FX Broker Issued Formal Warning for AML Violations
Forex brokerage Circle Markets Limited did not dispute the FMA’s findings, and its sole director admitted to not fully understanding his AML/CFT obligations.
October 21, 2019 -
740AML / KYCSFC Asks Licensed Firms to Bolster AML/CTF Compliance
Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.
September 9, 2019
