Banks' outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider.
December 21, 2020Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.
December 16, 2020Exiger uses an AI-based automated due diligence solution to accelerate customer screening, enhance risk assessment, and provide a complete picture of risk.
December 16, 2020An AML bill introduced last October has passed the Senate but without last month's amendment to include real estate agents, accountants, lawyers.
December 14, 2020AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.
December 9, 2020The SFC found deficiencies in areas including oversight, internal controls, risk assessments, third party deposits, SoW/SoF checks, and sanctions screening, among others.
December 2, 2020The Code was developed by an industry working group of 28 commodity financing banks in consultation with trading firms and with the support of regulators.
December 1, 2020The new guidance is aimed at assisting entities in establishing necessary arrangements to mitigate conduct risk associated with the discontinuation of LIBOR.
December 1, 2020Physical and transition risks could combine to increase destabilisation, the FSB says in a new report, citing “numerous sources of uncertainty”.
November 23, 2020The new guidelines emphasise the need for issue managers and full sponsors to "exhibit a healthy dose of professional scepticism" when conducting listings due diligence.
November 13, 2020