Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.
January 25, 2021Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.
January 21, 2021The SFC, HKMA, IA and MPFA are encouraging FIs to adopt iAM Smart in their businesses for customer authentication, document signing, and remote onboarding.
January 2, 2021The effective use of technology to support onboarding and ensure effective information sharing has become even more important, the FATF says.
December 18, 2020The 'vLEI' will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.
December 11, 2020JP Morgan issued the first LEI under the new Validation Agent model with LEI issuer, Business Entity Data, a wholly-owned subsidiary of DTCC.
November 19, 2020By adjusting their onboarding processes, FIs can enhance their client experience, reduce costs and pave the way for new cross border services, explains GLEIF CEO Stephan Wolf.
November 13, 2020Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.
October 18, 2020Digital transformation has accelerated in financial services amid the pandemic. But it has not come without risks.
October 5, 2020The guidelines, finalised in July, require investment advisors to only offer either advisory or distribution services to a client, but not both.
September 30, 2020