The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.
October 22, 2021The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
September 16, 2021The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.
September 14, 2021Chief executive Ross McEwan outlined NAB's work to update KYC information for all its customers as part of efforts to meet its AML obligations.
September 14, 2021Contract workers reportedly had to cut corners on compliance tasks to meet their KPIs, including by copy and pasting text from templates to fill reports sent to AUSTRAC.
June 29, 2021The extension is primarily being allowed to ensure regulators can process applications received before the 24 September deadline.
June 21, 2021The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.
June 8, 2021The guidance offers indicators to help financial services firms identify and report suspicious transactions related to cuckoo smurfing.
June 7, 2021Incorrect STR filings, as identified by the AMLC in a recent review, could downplay the risk and prioritisation of STRs, particularly when they involve high-risk crimes.
June 7, 2021The draft law brings into scope non-bank financial institutions as well as property developers, accounting firms and precious metal dealers.
June 3, 2021