Money remitters are using third-party bank accounts to deliver their money remittance services without advising the bank of this purpose.
August 17, 2023The warning is the second the DIA has issued to a real estate agent since the AML/CFT Act began applying to real estate agents in 2019.
June 9, 2023Common areas of non-compliance were identified from a review of 60 law firms, accounting practices and real estate agents.
June 7, 2023Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.
November 9, 2022Reporting entities "must" take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.
November 2, 2022Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
October 24, 2022Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
July 20, 2022The first publication covers the DIA's approach to regulating AML/CFT. The second outlines how the DIA uses its compliance and enforcement toolkit.
July 6, 2022The guidance highlights the need for reporting entities to conduct due diligence to understand who has effective control or beneficial ownership of legal structures.
March 19, 2022Outsourced CDD does not exist in isolation from reporting entities' wider CDD procedures and obligations, the DIA and FMA said.
December 20, 2021