AML / KYC

    AML / KYC

    HK Customs Flags Money Laundering Risk from Money Changers

    By Editors | 08/01/2021

    Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.

    AML / KYC

    White House Bans US Transactions With Chinese Payment Apps

    By Editors | 06/01/2021

    White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.

    AML / KYC

    RBI Mandates LEI Use for Large Payments via RTGS, NEFT

    By Manesh Samtani | 06/01/2021

    From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.

    AML / KYC

    China: Ex-Huarong Chairman Sentenced to Death for Corruption

    By Editors | 06/01/2021

    Convicted on bribery, embezzlement and bigamy charges, Lai Xiaomin will also be deprived of all political rights for life and have all of his personal property confiscated.

    AML / KYC

    OFAC Extends Chinese Military Company Ban to Subsidiaries

    By Editors | 03/01/2021

    In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.

    AML / KYC

    Japan Regulators Order Crypto Exchange to Improve AML Systems

    By Editors | 02/01/2021

    Avacus Co Ltd must build an AML/CTF risk management system that ensures transactions are confirmed and recorded at the time of transaction.

    AML / KYC

    Hong Kong Launches New Digital Identity Platform ‘iAM Smart’

    By Manesh Samtani | 02/01/2021

    The SFC, HKMA, IA and MPFA are encouraging FIs to adopt iAM Smart in their businesses for customer authentication, document signing, and remote onboarding.

    AML / KYC

    PBOC Revises AML Rules to Enhance Supervisory Scope

    By Editors | 02/01/2021

    With continuous innovation in the financial sector and the emergence of new types of financial businesses, it is necessary to improve the scope of AML supervision, the PBOC says.

    AML / KYC

    Federal Reserve Orders Credit Suisse to Enhance AML Controls

    By Editors | 31/12/2020

    Credit Suisse is required to improve its risk assessment, customer due diligence, suspicious activity monitoring and reporting processes.

    AML / KYC

    Singapore Police Commend Citi, RHB Bank for Foiling Scam

    By Editors | 29/12/2020

    Upon being alerted to a suspected case of money laundering by Citi, the Police’s Anti-Scam Centre froze the funds and recovered $1.9mn.

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