AML / KYC

AML / KYC

Sanctions Force Russian Sovereign Debt Default

By Editors | 28/06/2022

Russia made USD 100 million in payments due on 27 May to Euroclear, but the funds were not delivered to investors due to sanctions.

AML / KYC

AUSTRAC Updates Guidance on Reporting Cash Transactions

By Editors | 28/06/2022

When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.

AML / KYC

Hong Kong VASP Regime to Take Effect on 1 March 2023

By Natalie Curtis | 26/06/2022

The government acknowledges that the VASP regime will be more rigorous and comprehensive than those in Singapore, UK and Japan.

AML / KYC

Corporate Registries Should Issue LEIs in Bulk: BIS Paper

By Manesh Samtani | 25/06/2022

Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.

AML / KYC

Wolfsberg Group Calls for Greater Use of PPPs for AML/CTF

By Manesh Samtani | 24/06/2022

PPPs provide the most direct and impactful opportunity for FIs to collaborate with public sector stakeholders to identify and address financial crime risks.

AML / KYC

NSW to Strengthen State AML Laws to Target Organised Crime

By Editors | 24/06/2022

New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.

AML / KYC

US Sanctions Companies in HK, UAE for Iran-linked Dealings

By Editors | 23/06/2022

The sanctions came on the back of attempts by the US to restore the JCPOA, for which Iran is demanding some sanctions be lifted.

AML / KYC

PBOC Eases Overseas Transactions Rules for Domestic Payment Firms

By Darien Choong | 23/06/2022

Domestic payments institutions can use the cross-border CNY settlement services of banks for e-commerce and ‘new models’ of foreign trade.

AML / KYC

AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions

By Sanday Chongo Kabange | 22/06/2022

AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.