AML / KYC

AML / KYC

Complying with AML/CTF Obligations in Australia

By Sophie Gerber | 06/02/2019

Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.

AML / KYC

HKMA’s Regulatory Expectations of Remote Customer On-boarding

By Editors | 05/02/2019

Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.

AML / KYC

UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist

By Editors | 04/02/2019

Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.

AML / KYC

Chinese Supreme Court Directs Police on Illegal Fundraising Crackdown

By Editors | 31/01/2019

Police officers found to be negligent in enforcing against illegal fundraising through online channels could face criminal charges.

AML / KYC

Wolfsberg Group Publishes New Guidance on Sanctions Screening

By Editors | 29/01/2019

It aims to show where sanctions screening can be an effective part of a wider sanctions compliance programme, where it has limitations, and where a risk based approach is appropriate.

AML / KYC

China to Strengthen Compliance Management at Overseas Bank Branches

By Editors | 24/01/2019

CBIRC guidelines require Chinese banks to strengthen compliance management at overseas branches in relation to AML/CTF, tax evasion, sanctions, consumer protection and cybersecurity.

AML / KYC

Malaysia Restricts Crypto Activity Until New Guidelines in Place

By Manesh Samtani | 17/01/2019

Crypto exchange operators are prohibited from accepting new clients and ongoing ICO projects must return all client funds, until the securities regulator is ready to formally authorise their activities.

AML / KYC

China’s NIFA Launches AML/CTF Monitoring Platform for Online FIs

By Editors | 16/01/2019

Online financial institutions including those engaged in online lending, equity crowdfunding, fund sales and consumer finance are required to register on the platform by 31 January.

Market Infrastructure

Singapore Parliament Passes Payment Services Act

By Editors | 15/01/2019

The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.