AML / KYC

AML / KYC

Japan FSA Raids Two Crypto Exchanges to Check Compliance

By Editors | 25/04/2019

The FSA reportedly wants to ensure appropriate measures have been implemented for customer protection and legal compliance after recent management changes.

AML / KYC

SFC Imposes 10-Month Ban on Former Guosen Exec

By Editors | 24/04/2019

The 10-month ban on Su Xiqiang, former head of Guosen’s retail brokerage, was a result of improper handling of third-party fund deposits, and a lack of AML controls.

AML / KYC

Delayering AML – Ideal Test Field for Innovative Technologies

By Prasanna Venkatesan | 22/04/2019

AML/CFT is an ideal test field for new technologies given the risk factors and complex challenges Asian banks face, says Synpulse’s Prasanna Venkatesan.

AML / KYC

FATF Releases Mutual Evaluation Report on China

By Editors | 19/04/2019

Some of the gaps identified relate to an insufficient focus on non-financial businesses and professions, difficulties identifying beneficial ownership, and an inadequate sanctions framework.

AML / KYC

Singapore Charges its First National for Terrorism Financing

By Editors | 17/04/2019

Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.

AML / KYC

FATF to Adopt ‘Open-ended’ Mandate Starting in 2020

By Editors | 17/04/2019

The new open-ended mandate recognises FATF’s leadership role and strengthens its capacity to respond to threats facing the financial system.

AML / KYC

Southeast Asia Vulnerable to North Korea Crypto Activity

By Editors | 15/04/2019

New RUSI research reveals how North Korea can exploit cryptocurrency, particularly in Southeast Asia, to circumvent international sanctions.

AML / KYC

OCBC Received Police Award for Foiling Fraud Attempt

By Editors | 15/04/2019

OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client’s usual patterns.

AML / KYC

Japan FSA Proposes Stronger Regulation for Crypto Assets

By Editors | 13/04/2019

In a bill to amend the law, the FSA proposes the introduction of stronger protections for investors and restrictions to prevent misconduct in the crypto sector.