AML / KYC

AML / KYC

BaFin Orders Deutsche Bank to Further Enhance AML Controls

By Sanday Chongo Kabange | 04/05/2021

Deutsche Bank is asked to further bolster safeguards against financial crime, including in its correspondent banking relationships and transaction monitoring.

AML / KYC

RBNZ Calls on Banks to Avoid De-risking Pacific Island Nations

By Ranamita Chakraborty | 03/05/2021

The RBNZ and RBA are working with Pacific Island nations to develop a regional KYC facility, to support businesses in meeting their compliance obligations.

AML / KYC

Data Analytics Becoming Embedded at Singapore FIs

By Manesh Samtani | 02/05/2021

The increased use of data analytics and digital processes has led to increased AML/CFT effectiveness, according to Assistant Managing Director Ms Loo Siew Yee.

AML / KYC

AUSTRAC Issues Guidance on Filing More Effective SMRs

By Editors | 02/05/2021

The new resources include a reference guide and checklist, and feature guidance on how to write succinct, accurate and clear grounds for suspicion.

AML / KYC

FATF Publishes New Zealand Mutual Evaluation Report

By Manesh Samtani | 30/04/2021

Of the 40 recommendations, New Zealand is ‘Compliant’ on 8, ‘Largely Compliant’ on 20, and ‘Partially Compliant’ on 12.

AML / KYC

Australia Scraps Plan to Introduce Beneficial Ownership Register

By Ranamita Chakraborty | 30/04/2021

Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.

AML / KYC

UK Establishes New Global Anti-Corruption Sanctions Regime

By Manesh Samtani | 28/04/2021

The UK has made its first 22 designations under the new regime, including individuals in Russia, South Africa, Honduras, Nicaragua, Guatemala and South Sudan.

AML / KYC

Macau Amends Legal Framework to Enable Digital Yuan Adoption

By Sanday Chongo Kabange | 27/04/2021

Use of the fully traceable digital yuan will help Chinese authorities curb money laundering and illicit cross-border gambling.

AML / KYC

Mitigating Illicit Convergence in Transnational Financial Crime

By Editors | 27/04/2021

Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.