AML / KYC

AML / KYC

China Issues Implementing Rules for ‘Unreliable Entity List’

By Editors | 22/09/2020

Foreign firms and individuals could be hit with trade, investment and visa restrictions is they fail to “correct” their behaviour within a time limit.

AML / KYC

Australian Banks Flagged in SARs from FinCEN Files

By Editors | 21/09/2020

Among the potentially suspicious transactions were more than $174mn of possibly illicit funds that flowed through Australian banks.

AML / KYC

MAS ‘Closely Studying’ Singapore Mentions in FinCEN Files

By Editors | 21/09/2020

The SARs contained in the FinCEN Files flagged 1,781 transactions that flowed through Singapore as potentially suspicious.

AML / KYC

FinCEN Files Reveal AML Failures at Global Banks

By Manesh Samtani | 21/09/2020

The trove of documents shows that the banks allowed $2tr to flow through the financial system despite having flagged the transactions as suspicious.

AML / KYC

Global AML Reforms Need to Be More Ambitious

By Che Sidanius | 21/09/2020

The European Commission is taking decisive action to fight financial crime by reforming its AML rules and enforcement mechanism, writes Refinitiv’s Che Sidanius.

AML / KYC

Covid-19 Presents Opportunity to Disrupt Criminals: APG

By Editors | 20/09/2020

In its latest typologies report, the APG says Covid-19 may provide a unique opportunity for law enforcement and FIUs to detect and disrupt certain money laundering operations.

AML / KYC

Cambodia, China Reject US Sanctions Against Chinese SOE

By Editors | 20/09/2020

OFAC alleges that Chinese state-owned company Union Development Group seized land from locals for development through a corrupt Cambodian general.

AML / KYC

HKMA Issues Revised AML/CFT Guideline for SVF Licensees

By Editors | 20/09/2020

SVF licensees are given until 2 July 2021 to implement appropriate measures consistent with the revised guideline, which includes guidance on remote on-boarding.

AML / KYC

SFC Revises AML/CFT Guidelines for Securities Sector

By Manesh Samtani | 20/09/2020

The proposed amendments seek to align the SFC’s guidelines with the FATF guidance for adopting a risk-based approach in the securities sector.