All posts tagged "FIU"
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461AML / KYCNew Zealand Police Releases AML/CTF Assessment
NZ Police assessment identified trusts as attractive money laundering vehicles given government plans to exclude them from strengthened beneficial ownership disclosure regime
December 4, 2019 -
676AML / KYCFATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain
Sri Lanka has made "significant progress" to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.
October 23, 2019 -
485AML / KYCIndia Establishes High Level Panel on AML/CFT
The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.
October 8, 2019 -
509AML / KYCRBI Orders Banks to Review Controls on Internal Accounts
Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.
September 16, 2019 -
1.3KAML / KYCThe Long Arm of the Law
Eric A. Sohn at Dow Jones Risk & Compliance discusses the US’ ability to restrict a firm’s access to correspondent banking services and its financial markets.
August 19, 2019 -
573AML / KYCKorea’s FIU Seeks Direct Supervision Over Crypto Exchanges
Currently, the Financial Intelligence Unit only indirectly regulates cryptocurrency exchanges in Korea through the administrative guidance it issues for banks.
August 9, 2019 -
784AML / 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 -
1.2KAML / KYC
FATF 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 -
1.1KAML / KYC
South Korean Banks Vulnerable to Money Laundering Risks: FSC
Banks are most exposed to money laundering risks due to the innate characteristics of their products and services, according to an FSC review of the domestic financial industry.
November 29, 2018 -
356AML / KYC
India Mulls Tracking for All Non-Cash Financial Transactions
India's central bank is looking to create a repository of all non-cash financial transactions to widen the government's crackdown on money laundering or shell company activities.
July 12, 2018
