All posts tagged "Financial crime"
-
282AML / KYCNon Bank Payment Providers Raise Compliance Costs: LexisNexis
High labour costs in the AML function are partly driven by the growth of non-bank payment providers, which increase complexity and reduce transparency in the transaction chain.
June 20, 2019 -
310AML / KYCAUSTRAC Orders Audit of Afterpay’s AML Compliance
AUSTRAC has ordered 'buy-now, pay-later' service firm Afterpay to undergo an independent audit to its compliance with AML/CTF laws.
June 14, 2019 -
631EnforcementFinance Should be a Force for Good: MAS
Financial institutions need to build trust, inclusivity and sustainability in order to be a force for good, MAS managing director Ravi Menon said in a speech on Monday.
June 5, 2019 -
649EnforcementMAS Penalises Singapore National in LSE Insider Trading Case
The penalty was the result of close cooperation and information sharing between MAS and the UK FCA, which had referred the case and provided investigative assistance.
June 5, 2019 -
397Hong KongSFC Asks Licensed Firms to Review Controls on Third-Party Deposits
Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.
June 4, 2019 -
1.8KAML / KYCHK, Singapore, Japan Associations Launch APAC RegTech Network
The APAC RegTech Network seeks to enhance cross-border collaboration on regtech education and implementation across the region.
June 3, 2019 -
828AML / KYCFinancial Crime on the Rise in APAC
Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.
May 31, 2019 -
836AML / KYCWolfsberg Group Publishes Guidance on Customer Tax Evasion
Financial institutions should be able to leverage existing financial crime compliance, conduct and tax (including tax transparency regimes) procedures and controls, to address the risks of customer tax evasion.
May 15, 2019 -
530AML / KYCPhilippine FIU Seeks an End to Bank Secrecy Law
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
May 7, 2019 -
837AML / KYCFATF Releases Mutual Evaluation Report on China
Some of the gaps identified relate to an insufficient focus on non-financial businesses and professions, difficulties identifying beneficial ownership, and an inadequate sanctions framework.
April 19, 2019
