AML / KYC

AML / KYC

US Regulator Finds Lapses at Another Mega Bank Branch

By Samuel Riding | 03/10/2016

Mega Bank now under scrutiny for suspect transactions between Chicago and Panama.

AML / KYC

BCBS Confirms Leave from Basel to Support Financial Inclusion

By Samuel Riding | 28/09/2016

Committee confirms institutions can be compliant with its Core Principles without implementing Basel I, II or III.

AML / KYC

Singapore has Strong AML, CTF Framework—FATF

By Samuel Riding | 28/09/2016

But assessment report warns of need to enhance supervision of all financial institutions.

AML / KYC

Accuity Adds Beneficial Ownership Identification to Bankers Almanac

By Samuel Riding | 28/09/2016

Function identifies beneficial ownership interests of 0.1% or more versus regulatory thresholds of 10% or 20%.

AML / KYC

Emerging Asia Heads Decline in Banks’ Relevance – EY

By Samuel Riding | 27/09/2016

Lack of trust one of the main factors turning consumers away from traditional banks, report suggests.

AML / KYC

China Probes N.Korean Bank for Sanctions Busting

By Samuel Riding | 27/09/2016

Branch of Kwangson Bank should have been closed down under UN resolution, but continued to operate.

AML / KYC

Philippines Proposes New Money Service Rules

By Samuel Riding | 26/09/2016

Draft rules require ‘money service businesses’ to register with BSP; raises concern about hindering remittance flows

AML / KYC

Taiwan FSC Concerned by Mega Bank Data Request

By Samuel Riding | 22/09/2016

Regulator says disclosure could breach confidentiality rules, harm foreign customers.

AML / KYC

SFC Urges Brokers to Enhance AML Controls

By Samuel Riding | 22/09/2016

Licensees are vulnerable on being used to launder money and finance terrorism, regulator says.