Following AUSTRAC’s order for Afterpay to review its AML/CTF compliance in June on suspicious of breaches, an external order has found the breaches only occurred due to the poor legal advice.
November 27, 2019Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
November 8, 2019Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.
October 31, 2019The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.
October 9, 2019BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.
August 14, 2019From 5 July, intermediaries can access embedded data in client identity documents for onboarding. Captured biometric data such as a facial image can be used for identity verification.
July 1, 2019Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.
March 12, 2019Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
February 5, 2019Companies will be required to verify user data based on national IDs and phone numbers, effectively removing the anonymity of blockchainin the country.
January 15, 2019New regulations will make it easier for financial institutions to lend to SMEs and adopt new technologies, while also reducing burdensome approval processes.
November 23, 2018