AML / KYC

AML / KYC

Standard Chartered Fined Over $1bn by US, UK Authorities

By Editors | 10/04/2019

Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.

AML / KYC

MAS Renews Call for Use of Data Analytics in AML/CFT Programmes

By Manesh Samtani | 09/04/2019

MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.

AML / KYC

Artificial Intelligence – the Ultimate Weapon to Fight Financial Crime

By Karl Seagrave | 03/04/2019

Getting buy-in from senior management is one of the biggest hurdles to adopting AI in the fight against financial crime, says Fenergo’s Karl Seagrave.

AML / KYC

FMA Monitoring Report Reveals Multiple AML/CFT Deficiencies

By Editors | 02/04/2019

New Zealand’s Financial Markets Authority has released a report highlighting failures in reporting entities’ AML/CFT programmes, risk assessments and customer due diligence.

AML / KYC

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

AML / KYC

Indonesia Simplifies Stock Account Opening Process

By Editors | 01/04/2019

A new simplification programme for opening stock accounts in Indonesia should cut processing times to as little as 30 minutes, from about two weeks previously.

AML / KYC

Malaysia Mulls Cash Transaction Limit as AML Measure

By Editors | 01/04/2019

Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

AML / KYC

Philippines to Launch Digital Banking ID Registry This Year

By Editors | 31/03/2019

The blockchain powered ID registry will enable electronic KYC and make it easier for clients to access banking services.

AML / KYC

HKEX Offers Listing Applicants Guidance on Sanctions Risk

By Stephen Peepels | 26/03/2019

International law firm Hogan Lovells says the HKEX guidance provides significant insight into how it will consider international trade and sanctions issues in the context of IPO transactions.