AML / KYC

AML / KYC

Philippine SEC Tightens Rules on Beneficial Ownership of Shares

By Ranamita Chakraborty | 09/02/2021

New guidelines will require the disclosure of the identity of the beneficial owners of shares and prohibit the issuance of bearer shares.

AML / KYC

HK Banks Told to Stop Accepting BNO Passports as Valid ID

By Editors | 09/02/2021

The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.

AML / KYC

Korea: FSC Financial Sector Focus to Include Risk, Competition, Innovation

By Sanday Chongo Kabange | 07/02/2021

The FSC’s 2021 policy agenda for the financial sector will include measures to bolster risk management while also strengthening competitiveness and facilitating digital innovation.

AML / KYC

Greater Bay Regulators Sign MoU on Wealth Management Connect

By Manesh Samtani | 07/02/2021

The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.

AML / KYC

PBOC, SAFE Issue AML Guidelines for Cross-border Business

By Editors | 06/02/2021

The guidelines apply to cross-border activities using domestic or foreign currencies, as well as domestic activities using foreign currencies.

AML / KYC

Philippines Enacts AML Amendments to Avoid FATF Grey List

By Ranamita Chakraborty | 04/02/2021

Offshore gaming operators, their service providers, real estate developers and brokers have been brought into scope as covered entities.

AML / KYC

Thailand to Introduce Rules for Digital Asset Wallet Providers

By Editors | 02/02/2021

The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.

AML / KYC

China Punishes Former CBIRC Official for Corruption

By Editors | 02/02/2021

The ex-head of the CBIRC’s Shanxi bureau was expelled from the Communist Party and referred for criminal prosecution for suspected bribery.

AML / KYC

How Financial Institutions View Digital Identity: Survey

By Editors | 01/02/2021

RUSI and ACAMS have launched a new survey seeking to better understand the potential for digital ID to aid in the fight against financial crime.