Reporting 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, 2022InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
October 22, 2022When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.
October 7, 2022Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.
September 28, 2022Besides CDD and EDD failures, the bank's risk classification framework was "defective by design" and senior management oversight was "inadequate".
September 26, 2022The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.
September 6, 2022The FATF also commends the UK for progress made to expand its FIU's ability to conduct operational analysis.
June 15, 2022The 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, 2022