All posts tagged "identity verification"
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1.5KAML / KYCMeeting New Compliance Challenges Through Digital Identity
Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.
February 27, 2020 -
2.0KAML / KYCEBA Consults on Revised ML/TF Risk Factors Guidelines
The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.
February 7, 2020 -
481AML / KYCChina Issues Guidelines on Facial Recognition Enabled Payments
The guidelines set out principles for the use of facial recognition technology in payments, covering user consent and the collection, storage and use of facial data.
January 23, 2020 -
763AML / KYCBangladesh Introduces e-KYC for All Financial Services Firms
All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.
January 14, 2020 -
465AML / KYCRBI Allows Regulated Entities to Use Video-based KYC
Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.
January 10, 2020 -
1.4KAML / KYCMalaysia Replaces AML/CFT Framework with Two Policy Documents
The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.
January 3, 2020 -
343AML / KYCBOJ Releases Summary Report on CBDC Legal Issues
In light of the potential legal issues that may arise from a CBDC issuance by the Bank of Japan, more detailed discussion is needed.
December 27, 2019 -
857AML / KYC
BNM Issues Draft Rules on Financial Sector Use of Electronic KYC
BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.
December 17, 2019 -
360AML / KYCAML Audit Ordered by AUSTRAC Finds Afterpay ‘Low Risk’
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, 2019 -
310AML / KYCSEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC
Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
November 8, 2019
