AML / KYC

AML / KYC

SFC Finalises AML Guidelines for Securities Sector

By Manesh Samtani | 15/09/2021

The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.

AML / KYC

DPRK ‘Launders’ Vessel Identities to Evade Sanctions: C4ADS

By Editors | 15/09/2021

C4ADS says fraudulent ship registrations created with the IMO are being used to ‘launder’ the identity of vessels associated with illicit activities.

AML / KYC

German Finance, Justice Ministries Raided in Probe of FIU

By Sanday Chongo Kabange | 15/09/2021

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.

AML / KYC

Singapore Court Jails Businessman for Financing ISIS Fighter

By Ranamita Chakraborty | 13/09/2021

The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.

AML / KYC

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

AML / KYC

NAB Examining Data on 9m Customers to Plug AML, KYC Gaps

By Ranamita Chakraborty | 13/09/2021

Chief executive Ross McEwan outlined NAB’s work to update KYC information for all its customers as part of efforts to meet its AML obligations.

AML / KYC

Three More Korean Crypto Exchanges Secure Deals with Banks

By Editors | 13/09/2021

Bithumb, Coinone, and Korbit will likely meet the 24 September deadline. Korean police are preparing for illegal incidents from exchanges that are forced to close.

AML / KYC

Philippine SEC Disseminates Guidance on Targeted Financial Sanctions

By Editors | 12/09/2021

The guidance now covers targeted financial sanctions related to terrorism, terrorism financing, and proliferation financing, including remedies and relevant UNSC links.

AML / KYC

Philippine AMLC Asks Firms to Provide UBO Information in STRs

By Sanday Chongo Kabange | 10/09/2021

The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.