All posts tagged "customer verification"
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308AML / KYC‘Tranche 1.5’ AML Reforms Take Effect in Australia
AUSTRAC has issued rules to support the introduction of the reforms, which include measures to streamline customer verification and correspondent banking.
June 21, 2021 -
285Asia-PacificSEC Thailand Orders Crypto Exchange to Suspend Client Onboarding
Bitkub needs to address five major issues before it can resume onboarding new clients, after high volume trading disrupted its systems in January.
February 8, 2021 -
622AML / KYCAUSTRAC 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 -
698AML / KYCBSP Highlights AML Risks of Cash, Cross-Border Payments
Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.
January 25, 2021 -
660AML / 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 -
628Asia-Pacific
BSP 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 -
1.5KAML / KYCMAS, ABS Push Greater Adoption of Digital Financial Services
The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.
April 10, 2020 -
1.0KAML / KYCRBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
March 31, 2020 -
1.4KAML / 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 -
1.1KAML / KYCBNM Publishes Consultation Response on New AML/CFT Framework
BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.
February 3, 2020
