All posts tagged "MSBs"
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699MalaysiaBNM Revises Regulatory Framework for Money Services Businesses
The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
January 3, 2022 -
427KoreaFSC Korea Says LIBOR Transition Progressing Smoothly
The CD rate has been actively replaced with Korea's new RFR, known as KOFR, since its introduction on 25 November, the FSC said.
December 31, 2021 -
356AML / KYC
BNM Allows MSBs to Onboard Corporate Customers Remotely
A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.
July 12, 2021 -
449Feature
FSC Announces Selection of Korea’s New Risk-free Rate
The FSC will work on measures to promote and facilitate the use of the new RFR, including by listing RFR futures by year-end.
March 4, 2021 -
464AML / KYCBSP Updates VASP Rules to Align with FATF Requirements
The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.
January 28, 2021 -
495AML / KYCUPDATED – FinCEN Proposes Reporting, Recordkeeping Rules for Crypto
Under the proposed rule, FIs will have to keep records of customers' crypto transactions and counterparties, and whether they are using unhosted wallets.
December 24, 2020 -
882AML / KYC
Malaysia to Introduce e-KYC for Money Services Businesses
BNM 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, 2019
