All posts tagged "Customer due diligence"
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91AML / KYCEuropean Commission Presents Package of AML/CFT Reforms
A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.
July 23, 2021 -
94AML / KYCNew Zealand to Update AML/CFT Regulations
Reporting entities will have to conduct customer due diligence on nominee directors and nominee general partners of companies, among other changes.
July 14, 2021 -
255AML / KYCMAS Proposes Additional AML/CFT Requirements for FIs
MAS proposes requirements for dealings in precious stones and metals, transactions involving digital payment tokens, and customers that may be considered higher risk shell companies.
July 13, 2021 -
78AML / KYCNZ Issues AML/CFT Advisory On Sight Unseen Property Purchases
Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.
July 13, 2021 -
97AML / KYCFSC Korea Concerned of Embezzlement by Crypto Exchanges
As the 24 September deadline for VASPs to register their businesses approaches, some businesses may close down, presenting risks to customer deposits.
July 3, 2021 -
250AML / KYCAUSTRAC Launches Formal Probe into NAB Over AML Breaches
AUSTRAC said it is not considering civil penalty proceedings at this stage, a decision made based on the work undertaken by NAB to date.
June 7, 2021 -
463AML / KYCChina to Broaden Scope of AML Law, Raise Penalties
The draft law brings into scope non-bank financial institutions as well as property developers, accounting firms and precious metal dealers.
June 3, 2021 -
117AML / KYC2018 Circular Prohibiting Crypto Dealings Not Valid, RBI Clarifies
The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.
June 2, 2021 -
499AML / KYCPhilippine AMLC to Penalise Firms for Incorrect STR Filings
AMLC Executive Director Mel Georgie Racela told Regulation Asia that incorrect STR filings identified in a recent review will result in supervisory action.
May 24, 2021 -
198AML / KYCRBI Relaxes Restrictions on the Use of Video-based KYC
Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.
May 18, 2021
