All posts tagged "CDD"
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356AML / KYCRBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
March 31, 2020 -
1.2KAML / KYCHolding the Line on Ultimate Beneficial Ownership
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
March 25, 2020 -
720AML / KYCS. Korea Approves Revisions to Legal Framework for Crypto
The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.
March 18, 2020 -
1.3KAML / KYCFATF Issues Guidance Paper on Digital Identity Systems
The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.
March 7, 2020 -
1.2KAML / KYCFinancial Quarantine: Understanding FATF’s Call for Action on Iran
Nick Turner at Steptoe & Johnson explains the implications of the FATF's recent decision to return Iran to its so-called ‘blacklist’.
March 2, 2020 -
1.4KAML / KYCMeeting New Compliance Challenges Through Digital Identity
Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.
February 27, 2020 -
967AML / KYCFATF Highlights Digital Identity, Virtual Assets as Key Priority Areas
At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.
February 24, 2020 -
501AML / KYCSFC Fines BMI Securities, Suspends RO for AML Breaches
The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.
February 11, 2020 -
2.0KAML / KYCEBA Consults on Revised ML/TF Risk Factors Guidelines
The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.
February 7, 2020 -
801AML / KYCBNM Publishes Consultation Response on New AML/CFT Framework
BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.
February 3, 2020
