The SFC will remove investment restrictions, expand custodian eligibility requirements, and introduce a statutory re-domiciliation mechanism.
September 3, 2020The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.
July 30, 2020Sri Lanka's FIU has revealed that two banks and one finance company were penalised in 2019, and two other finance companies in 2020.
July 30, 2020The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.
June 16, 2020AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.
June 14, 2020Regulated entities will no longer need to seek MAS approval prior to commencing business arrangements with foreign related corporations; a 14-day ex-post notification will instead be required.
June 8, 2020In a recent Bureau van Dijk webinar, industry experts examined how data, technology and AI can help mitigate the risk of criminals benefitting from the Covid-19 cash pump.
June 1, 2020EY's 2017 review of Westpac highlighted poor data quality, outdated infrastructure, incompatible systems, capacity issues, manual workarounds and historical underinvestment.
May 21, 2020FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.
May 5, 2020US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.
May 5, 2020