All posts tagged "Compliance"
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277AML / KYCNon Bank Payment Providers Raise Compliance Costs: LexisNexis
High labour costs in the AML function are partly driven by the growth of non-bank payment providers, which increase complexity and reduce transparency in the transaction chain.
June 20, 2019 -
310AML / KYCAUSTRAC Orders Audit of Afterpay’s AML Compliance
AUSTRAC has ordered 'buy-now, pay-later' service firm Afterpay to undergo an independent audit to its compliance with AML/CTF laws.
June 14, 2019 -
593EnforcementUPDATED – Citigroup Japan Fined, Ordered to Improve Internal Controls
Having failed to detect after hours spoofing by a London trader, Citigroup Global Markets Japan has been fined, ordered to improve its controls, and suspended from participating in JGB auctions.
June 10, 2019 -
517Australia & NZANZ New Zealand Censured Over Internal Models
The Reserve Bank of New Zealand has revoked ANZ’s right to model its operational risk capital requirements due to persistent failures in controls.
May 21, 2019 -
255EnforcementNSE India Fines 250 Listed Companies
India’s National Stock Exchange has fined 250 firms for non-compliance with its listing obligations and disclosure requirements.
May 17, 2019 -
545AML / KYCArtificial Intelligence Holds “Immense Potential” for Risk Management – MAS
MAS is using artificial intelligence tools for risk detection and market surveillance, while also working to strengthen protections against cyber risk, data breaches and AI-based discrimination.
May 16, 2019 -
739AML / KYCStandard Chartered Fined Over $1bn by US, UK Authorities
Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.
April 11, 2019 -
854Australia & NZBanks Not Using Latest RegTech Solutions Must Explain Why – ASIC
ASIC reportedly plans to force banks to explain why they aren't using the latest technology to improve regulatory compliance, including systems offered by regtech startups.
March 29, 2019 -
685FeatureBanks Increasingly Focused on Conduct Risk – FSB
At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.
March 12, 2019 -
827AML / KYCAPRA, AUSTRAC to Engage Regtechs on Solution Development
APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.
March 8, 2019
