AML / KYC

AML / KYC

BCBS Updates AML Guidance to Advance Supervisory Cooperation

By Editors | 02/07/2020

Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.

AML / KYC

New FATF President Presents Objectives For Two-Year Term

By Editors | 01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.

AML / KYC

BNM e-KYC Policy for Customer Onboarding Takes Effect

By Editors | 30/06/2020

Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.

AML / KYC

FATF Progresses Key Initiatives at June 2020 Plenary

By Editors | 30/06/2020

The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

AML / KYC

National Security Legislation Promulgates in Hong Kong

By Editors | 30/06/2020

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.

AML / KYC

UPDATED – Wirecard Fraud: A Timeline of Events

By Editors | 30/06/2020

Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.

AML / KYC

Hong Kong Autonomy Act Advances in US Congress

By Manesh Samtani | 26/06/2020

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China’s new national security law for Hong Kong.

AML / KYC

FATF Report Addresses ‘Global Threat’ of Illegal Wildlife Trade

By Manesh Samtani | 25/06/2020

The FATF calls for a coordinated response from public authorities, the private sector and civil society to identify and disrupt financial flows from illegal wildlife trade.

AML / KYC

NZ Police Seize $90m Allegedly Laundered with Bitcoin

By Editors | 25/06/2020

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.