All posts tagged "customer identification"
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475AML / 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 -
414AML / KYCAustralia: Senate Committee Backs Passage of AML Amendments
The bill allows firms to rely on KYC performed by third parties, strengthens correspondent banking protections, and promotes greater use of financial intelligence to combat financial crime.
March 12, 2020 -
1.6KAML / KYCFATF Issues Guidance Paper on Digital Identity Systems
The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.
March 7, 2020 -
1.1KAML / KYCFATF Highlights Digital Identity, Virtual Assets as Key Priority Areas
At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.
February 24, 2020 -
2.3KAML / KYCPBOC Fines Three FIs, 24 Officers for AML Compliance Failures
China Minsheng Bank, China Everbright Bank and Huatai Securities have been fined a combined 52mn yuan for failures in customer identification, transaction reporting and record keeping.
February 18, 2020 -
331AML / KYCFSC Korea Enables Online Account Opening for Foreigners
The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.
December 24, 2019 -
651AML / KYCFATF Begins Assessment of Japan’s AML Regime
For the first time, cryptocurrency exchanges will also subject to the review, the first assessment of Japan’s AML system in 11 years.
October 30, 2019 -
1.1KAML / KYCAustralia Introduces Bill to Ease CDD Compliance Burden
The bill allows reporting entities to rely on CDD procedures performed by a third party. Meanwhile, a bill to limit cash payments to A$10,000 nationwide passes the lower house.
October 28, 2019 -
999AML / KYCJapanese Regional Banks to Set Up AML Information Sharing
An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.
August 16, 2018 -
387AML / KYCRBI Updates KYC Guidance to Include Aadhar, Taxpayer Numbers
Accounts opened without new documentary requirements will have severe restrictions in place including a INR50,000 maximum balance and monitoring to prevent foreign transactions.
April 25, 2018
