All posts tagged "customer identification"
-
245AML / KYCChina Issues Draft Rules on Beneficial Ownership Identification
FIs will be required to verify the identities of all ultimate beneficial owners of accounts opened and maintained for all customers.
April 3, 2021 -
375AML / KYCAUSTRAC Publishes Regulatory Guides on Strengthen AML Controls
The regulatory gives cover governance, risk assessments, customer due diligence, IFTIs reporting, and correspondent banking relationships.
March 31, 2021 -
208AML / KYCOFAC Settles Sanctions Case Against Crypto Payments Processor BitPay
BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.
February 21, 2021 -
342AML / KYC
AUSTRAC Consults on AML/CTF Rules for Phase 1.5 Reforms
The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.
January 28, 2021 -
625AML / KYC
PBOC Tripled AML Penalties in 2020 Compared to 2019
Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.
January 14, 2021 -
404AML / KYCAustralia: AML Bill Passes Senate, DNFBP Amendment Rejected
An AML bill introduced last October has passed the Senate but without last month's amendment to include real estate agents, accountants, lawyers.
December 14, 2020 -
444AML / KYC
AUSTRAC Publishes AML/CTF Guidance for Remittance Providers
AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.
December 9, 2020 -
1.7KAML / KYCHong Kong to Align Crypto Regulatory Framework with FATF Standards
The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.
November 3, 2020 -
570Asia-PacificBSP Approves Sale of Unit Investment Trust Funds via Third Parties
New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.
September 27, 2020 -
624AML / KYCStockbrokers’ Association Pushes Back Against AUSTRAC Proposal
AUSTRAC proposed in July to allow brokers to open accounts for new clients with flexibility to complete the customer identification procedure within five days.
September 25, 2020
