BOK tested the use of its CBDC system to purchase NFTs, perform cross-border remittances, fulfill seizure orders, and automate AML/CFT monitoring and STR filings.
November 8, 2022The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.
November 8, 2022The agent collected a bag of cash for a property purchase. It was later discovered that the purchaser was an undischarged bankrupt and operated illegal gambling dens.
October 26, 2021The new STR filing system and the screening and analysis process have been made more efficient, while guaranteeing better system security and stability.
March 9, 2021Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.
February 25, 2021The upgraded AML system has increased KoFIU's processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.
December 18, 2020New guidance from the FATF has been welcomed by the crypto industry, despite the compliance challenges it presents, writes Nathan Smale at Emfarsis.
September 29, 2020FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.
May 5, 2020VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.
January 16, 2020Collaboration with regtech firm Tookitaki has enabled deeper and broader analyses of data sets which can be applied to all processes within AML framework.
August 24, 2018