AML / KYC

    AML / KYC

    HKIFA Warns Against Concealing Company Director Information

    By Editors | 04/06/2021

    The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.

    AML / KYC

    Biden Executive Order Amends, Clarifies China Blacklist

    By Manesh Samtani | 04/06/2021

    The revised EO is clearer, addresses many of the problem areas in the old EO, and is more enforceable, says Nick Turner at Steptoe & Johnson.

    AML / KYC

    Korea Designates FSS as Agency to Regulate Virtual Assets

    By Sanday Chongo Kabange | 03/06/2021

    The FSS will oversee the crypto industry, including in relation to AML rules imposed by the Act on Reporting and Using Specified Financial Transaction Information.

    AML / KYC

    China to Broaden Scope of AML Law, Raise Penalties

    By Manesh Samtani | 02/06/2021

    The draft law brings into scope non-bank financial institutions as well as property developers, accounting firms and precious metal dealers.

    AML / KYC

    Philippines: 26 Groups Jointly Call for Easing of Bank Secrecy Law

    By Ranamita Chakraborty | 02/06/2021

    The groups say the Philippines lags the world on bank secrecy and allows politicians and other government officials to hide unexplained wealth.

    AML / KYC

    Addressing Sanctions Risk in Maritime Trade

    By Manesh Samtani | 02/06/2021

    Banks facilitating transactions involving maritime trade must put in place systems and processes to detect illicit activity that could result in a breach of sanctions regulations.

    AML / KYC

    Interpol Concludes APAC Operation Targeting Online Financial Crime

    By Manesh Samtani | 02/06/2021

    The six-month operation led to 585 arrests, more than 1,600 bank account freezes, and the interception of USD 83 million in illicit funds.

    AML / KYC

    2018 Circular Prohibiting Crypto Dealings Not Valid, RBI Clarifies

    By Sanday Chongo Kabange | 01/06/2021

    The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.

    AML / KYC

    Why Asia Needs to Know About a German Supply Chain Law

    By Elke Biechele. RisikoTek | 01/06/2021

    A more evidence-driven approach to supply chain due diligence is needed as human rights and environmental risk come into focus, writes Elke Biechele.

    AML / KYC

    HK Bankers Threatened With Jail Under National Security Law

    By Editors | 29/05/2021

    Letters sent to HSBC and Citibank threaten up to seven years’ jail for any dealings with Hong Kong accounts belonging to media tycoon Jimmy Lai.

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