AML / KYC

    Fintech / Regtech

    BIS, CPMI Report Outlines Dangers of Central Bank Digital Currencies

    By Manesh Samtani | 14/03/2018

    Central bank-issued digital currencies can enhance payments, settlement, efficiency; but financial stability implications warrant consideration.

    AML / KYC

    SEBI Concerned About Money Laundering via PE, VC

    By Garima Chitkara | 11/03/2018

    Indian regulator says looser investment rules could encourage ‘round-tripping’ of funds by domestic investors, concerned about source of funds.

    AML / KYC

    Japan FSA Orders Business Improvement, Closures at Crypto Exchanges

    By Manesh Samtani | 10/03/2018

    Five exchanges including recently-hacked Coincheck ordered to improve internal controls; two exchanges ordered to halt services.

    AML / KYC

    Credit Reporting Regime Must Be Fair: ABA

    By Editors | 09/03/2018

    Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.

    AML / KYC

    New Initiative to Help Boost Correspondent Banking Relationships

    By Editors | 08/03/2018

    Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.

    AML / KYC

    SEBI Mulling Omnibus Accounts for Gift City

    By Garima Chitkara | 03/03/2018

    Omnibus accounts will allow bank clients to trade without undergoing standard KYC procedures and help boost trading from offshore participants.

    AML / KYC

    Bangladesh Bank to Introduce e-KYC for Account Opening

    By Editors | 02/03/2018

    Electronic KYC will include digital forms and thumbprint verification; bank can access national identity card database for further verification.

    AML / KYC

    CBA Defends Against Regulators’ Allegations

    By Manesh Samtani | 01/03/2018

    The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.

    AML / KYC

    Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts

    By Bradley Maclean | 01/03/2018

    Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.

    AML / KYC

    Malaysia Issues AML/CTF Policy for Cryptocurrency Exchanges

    By Manesh Samtani | 01/03/2018

    Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.

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