All posts tagged "PEPs"
-
833AML / KYCMAS Penalises Asiaciti Trust for AML/CFT Failures
Asiaciti Trust failed to put in place adequate procedures to establish source of wealth, and did not inquire into unusually large transactions by customers who were PEPs.
July 23, 2020 -
880AML / KYCHong Kong Wealth Managers Scrutinise Clients for Political Links
Wealth managers are said to be screening comments made by clients and their associates in public, in the media, and in social media posts as far back as 2014 to determine their political stance.
July 22, 2020 -
2.0KAML / KYCSri Lanka’s ‘Special Deposit Account’, a Recipe for Disaster
A CBSL scheme announced in April to drive inward remittances and investment may risk Sri Lanka falling back into the FATF's grey list, says Duruthu Chandrasekera.
June 22, 2020 -
2.9KAML / KYCTyphoon Trump: Hong Kong Braces for US Sanctions
Nick Turner at Steptoe & Johnson discusses how sanctions could be imposed against Hong Kong. While current signs point to a limited US response, it’s best to be prepared.
June 8, 2020 -
1.1KAML / KYCS. Korea AML/CFT Framework Significantly Strengthened: FATF
Korea demonstrates effective cooperation among local authorities, the private sector and foreign counterparts; and effective use and development of financial intelligence.
April 19, 2020 -
837AML / KYCTiger Brokers NZ, Six Others Get Formal Warning for AML Failures
A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.
April 7, 2020 -
2.2KAML / KYCHolding the Line on Ultimate Beneficial Ownership
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
March 25, 2020 -
893AML / KYCSFC Fines BMI Securities, Suspends RO for AML Breaches
The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.
February 11, 2020 -
2.2KAML / KYCAPAC Wealth Migration Trends Heighten Financial Crime Risk
APAC regulators are looking to FIs and their technology to guard against increasingly sophisticated criminal activity as wealth migration accelerates, says Joseph Quiazon at Exiger.
December 28, 2019 -
661AML / KYCNew Zealand FX Broker Issued Formal Warning for AML Violations
Forex brokerage Circle Markets Limited did not dispute the FMA’s findings, and its sole director admitted to not fully understanding his AML/CFT obligations.
October 21, 2019
