All posts tagged "Onboarding"
-
81EnforcementRBI Imposes Restrictions on Mastercard Over Data Storage
The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.
July 15, 2021 -
140AML / KYCBNM 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 -
228AML / KYCFATF Issues Guidance on Mitigating Proliferation Financing Risk
The guidance highlights the need for effective onboarding processes, ongoing monitoring, staff training, risk management, sanctions screening, and a strong compliance culture.
June 30, 2021 -
357AML / KYCDigital Identity: A Sound Model for Risk Mitigation
Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.
June 29, 2021 -
149AML / KYCFinancial Crime Compliance Costs to Reach $213.9bn for 2021
KYC for onboarding and customer risk profiling were cited as the biggest challenges for APAC financial institutions in a LexisNexis Risk Solutions study.
June 12, 2021 -
324AML / KYCHKMA Urges Banks to Use iAM Smart in Remote Onboarding
The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.
May 25, 2021 -
767AML / KYC
Proliferation Financing Risk: A Due Diligence Challenge
Measures for detecting proliferation financing risk are designed to help identify sanctions evasion and uncover the beneficial owners of corporate entities.
May 19, 2021 -
197AML / KYCRBI Relaxes Restrictions on the Use of Video-based KYC
Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.
May 18, 2021 -
411AML / KYCDigital ID Perceived As Beneficial in Combatting Financial Crime
Digital IDs are perceived as beneficial for the fight against financial crime, an ACAMS-RUSI survey finds. However they may also present risks.
April 15, 2021 -
266AML / KYCChina: CFCA Starts to Embed LEIs in Digital Certificates
The China Financial Certification Authority has also become the first certification authority to become a validation agent in the Global LEI System.
April 15, 2021
