All posts tagged "CDD"
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255AML / 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 -
325AML / KYCHKMA Urges Banks to Use iAM Smart in Remote Onboarding
The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.
May 25, 2021 -
660AML / KYCHong Kong to Bar Retail Investors from Crypto Trading
Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.
May 24, 2021 -
427AML / KYCMAS Consults on Proposed AML Notices for Foreign Offices, FRCs
MAS seeks comment on four notices, which contain requirements on record-keeping, internal policies, and the provision of records to MAS upon request.
May 13, 2021 -
281AML / KYCFinCEN Consults on Beneficial Ownership Reporting Requirement
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
April 8, 2021 -
757AML / KYCMAS Offers New AML/CFT Guidance for VASPs
MAS has identified several VASPs that have not come forward for licensing despite operating in Singapore or soliciting business from Singapore residents.
March 29, 2021 -
299AML / KYCSFC to Require OFCs to Appoint Responsible Person for AML
The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
December 24, 2020 -
763AML / KYCFATF Consults on AML/CTF Frictions in Cross-border Payments
The 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, 2020 -
1.5KAML / KYCSouth Pacific Nations Complete First Phase of KYC Facility Project
The KYC facility will improve CDD processes and AML/CFT compliance, and support the provision of correspondent banking services to Pacific Island nations.
November 22, 2020 -
1.5KAML / KYCFSB Publishes Roadmap on Enhancing Cross-Border Payments
The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.
October 13, 2020
