The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.
April 26, 2022Crown Melbourne and Crown Perth failed to assess ML/TF risk, carry out appropriate due diligence on customers, and establish a transaction monitoring programme.
March 1, 2022Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.
January 21, 2022SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.
December 21, 2021Oracle provides real-time customer onboarding, continuous monitoring, built-in watchlist screening, KYC risk assessment and scoring, case investigation, CDD and EDD.
December 10, 2021ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.
November 22, 2021The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.
September 14, 2021The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.
August 24, 2021Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.
May 6, 2021Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.
October 18, 2020