AML / KYC

AML / KYC

BSP Updates e-KYC Guidelines for Financial Institutions

By Ranamita Chakraborty | 03/10/2021

The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.

AML / KYC

AFP Wins First Asset Confiscation Case Under Operation Ironside

By Editors | 01/10/2021

A$6mn in cash obtained as a result of the forfeiture order will be redistributed to support crime prevention, law enforcement and related community initiatives.

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

By Manesh Samtani | 30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.

AML / KYC

US DOJ Links Singapore, Hong Kong to Tax Evasion Case

By Editors | 30/09/2021

An unsealed indictment shows that six individuals and a Swiss firm used accounts in Singapore and Hong Kong to help US clients evade taxes from 2009 to 2014.

AML / KYC

Korean VASPs Barred From Trading Native Tokens

By Sanday Chongo Kabange | 29/09/2021

A new conflict of interest rule bars VASPs from trading native tokens and their staff from trading virtual assets on their own platforms.

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

AML / KYC

AUSTRAC Outlines Planned Enhancements to Reporting System

By Editors | 29/09/2021

A four-year transformation programme will introduce a “modern and intuitive user interface” and high-speed channels for file uploads, among other changes.

AML / KYC

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

By Sanday Chongo Kabange | 27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.