New report details case studies and insights from banks that have implemented technologies to enhance the efficiency and effectiveness of their AML/CFT efforts.
January 22, 2021Singapore’s money remittance sector poses the highest risk of being exploited for terrorism financing, followed by the banking sector.
January 12, 2021Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
December 31, 2020The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
December 24, 2020The SFC found deficiencies in areas including oversight, internal controls, risk assessments, third party deposits, SoW/SoF checks, and sanctions screening, among others.
December 2, 2020The RBNZ is also looking into compliance issues eight banks have identified with transaction reporting requirements over the past six months.
November 27, 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, 2020Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI's Tom Keatinge.
October 30, 2020Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.
October 26, 2020According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.
October 21, 2020