AML / KYC

AML / KYC

HKMA Offers New Guidance on Transaction Monitoring

By Manesh Samtani | 17/04/2024

The guidance is based on a thematic review of TM systems, which also explored how FIs adopt artificial intelligence to optimise performance.

AML / KYC

Singapore Banks Averted S$72.7m in Scam Losses in 2023: ABS

By Nithya Subramanian | 17/04/2024

The ABS has also launched a mascot design competition to encourage wider participation in the ongoing fight against scams.

AML / KYC

Third Man Jailed in Singapore’s Billion Dollar Money Laundering Case

By Nithya Subramanian | 17/04/2024

Chinese national Wang Baosen jailed for 13 months and required to forfeit over S$8mn in assets as part of his plea deal.

AML / KYC

Australian Senator Calls on AUSTRAC to Investigate TikTok

By Nithya Subramanian | 17/04/2024

TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.

AML / KYC

BNM Finalises Policy Requirements for Electronic KYC

By Mark Johnston | 17/04/2024

The policy document sets revised requirements and guidance for implementing e-KYC solutions in Malaysia’s financial sector.

AML / KYC

GLEIF Announces First European-based vLEI Issuer

By Editors | 17/04/2024

The vLEI is the cryptographically secure digital counterpart of a conventional LEI that can be used to automate business process.

AML / KYC

US, China Commence Meetings on AML, Financial Sector Resilience

By Mark Johnston | 16/04/2024

At the AML/CFT meetings, officials discussed virtual assets and beneficial ownership, with both sides agreeing to continue meeting regularly.

AML / KYC

Multiple US Regulators Probing Morgan Stanley’s Wealth Arm – Report

By Nithya Subramanian | 16/04/2024

US regulators are assessing whether the bank has sufficiently investigated the identities of clients and their sources of wealth.

AML / KYC

Australia: New ID Register Blocks 300,000 Fraud Attempts

By Nithya Subramanian | 15/04/2024

Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.