All posts tagged "EDD"
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502AML / KYCFCA Directs Challenger Banks to Bolster FCC Controls
The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.
April 26, 2022 -
484AML / KYCAUSTRAC Launches Federal Court Proceedings Against Crown Casinos
Crown 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, 2022 -
1.2KAML / KYCMAS Fines Vistra Trust for Failures in AML Controls
Vistra 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, 2022 -
552AML / KYCHKMA Fines ePaylinks Technology for AML/CTF Breaches
SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.
December 21, 2021 -
Press Release
Regulation Asia Recognises Oracle Financial Services for KYC Solution
Oracle provides real-time customer onboarding, continuous monitoring, built-in watchlist screening, KYC risk assessment and scoring, case investigation, CDD and EDD.
December 10, 2021 -
1.2KAML / KYC
HKMA Penalises Four Banks for AML Violations
ICBC (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, 2021 -
429AML / KYCNZ Court Fines CLSA Premium NZ for AML/CFT Breaches
The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.
September 14, 2021 -
316AML / KYC
FMA Identifies AML Breaches by Investment Platform Sharesies
The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.
August 24, 2021 -
814AML / KYCAUSTRAC Orders Mutual Bank to Uplift AML Compliance
Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.
May 6, 2021 -
11.6KAML / KYCSoW/SoF Checks: What Does Good Look Like?
Regulation 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
