All posts tagged "Customer due diligence"
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324AML / KYCUS OCC Orders Digital Assets Bank to Address AML Failings
Deficiencies were found at Anchorage Digital Bank, the US' first federally chartered bank authorised to provide institutional custody services for crypto.
April 30, 2022 -
1.1KAML / KYCMAS Issues New AML/CFT Notices for Financial Institutions
The Notices cover activities involving precious stones and metals, services and transactions involving digital payment tokens, and risk assessments on shell companies.
March 2, 2022 -
484AML / KYCAUSTRAC Launches Federal Court Proceedings Against Crown Casinos
Crown Melbourne and Crown Perth failed to assess ML/TF risk, carry out appropriate due diligence on customers, and establish a transaction monitoring programme.
March 1, 2022 -
667AML / KYCChina: Regulators Suspend Implementation of New CDD Rules
The new rules were meant to take effect on 1 March, but implementation has been suspended "due to technical reasons".
February 22, 2022 -
817AML / KYCKoFIU Unveils AML Supervision & Inspection Plan for 2022
KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.
January 18, 2022 -
401AML / KYCSFC Fines Mason Securities for AML Breaches
In deciding the disciplinary sanction, the SFC took into account the "extensive period of time" over which the failures occurred.
December 17, 2021 -
1.8KContributed ArticleMapping Out How Decentralised Exchanges Can be Regulated
An appropriate regulatory regime that safeguards investors and fosters innovation will allow society to benefit from DEXs and DeFi generally, says DLA Piper's Kristi Swartz.
December 7, 2021 -
945AML / KYCBNM Unveils Initial Findings of Malaysia National Risk Assessment
BNM is using technology to improve its risk-based supervision, intelligence analysis, data science techniques and off-site surveillance.
December 6, 2021 -
321AML / KYCGermany’s BaFin Fines N26 Over Weak AML Controls
The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.
October 8, 2021 -
327AML / KYCNew Zealand Consults on Broad Changes to AML/CFT Act
Changes being considered include the introduction of a new registration regime for all AML/CFT businesses, a licensing regime for VASPs, and direct penalties for senior managers.
October 8, 2021
