All posts tagged "Customer due diligence"
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136FeatureSFC Raises Concerns with Leveraged Foreign Exchange Trading
The sample of brokers in an SFC survey reported that more than 60% of clients who engage in leveraged foreign exchange trading made make net trading losses, some in excess of HK$1mn.
April 10, 2020 -
346AML / KYCTiger Brokers NZ, Six Others Get Formal Warning for AML Failures
A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.
April 7, 2020 -
3.2KAML / KYCThe Four e-KYC Models Around the World
Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
April 5, 2020 -
351AML / KYCBSP Relaxes KYC Norms During Covid-19 Lockdown
The move will facilitate the delivery of welfare funds to beneficiaries who have no available valid IDs or transactional account with any financial institution.
April 1, 2020 -
475AML / 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 -
1.3KAML / 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 -
559AML / 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 -
1.6KAML / KYCFATF Issues Draft Guidance on Digital Identity Systems
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.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 -
609EnforcementSFC Fines Sincere Securities for Internal Control Failings
The SFC and an independent reviewer identified deficiencies across 14 areas of Sincere Securities’ business operations and internal controls, resulting in a fine of HK$5mn.
August 16, 2019 -
1.0KAsia-PacificPhilippine SEC Consults on Draft Rules for Digital Asset Exchanges
The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.
July 19, 2019
