AML / KYC

AML / KYC

FATF Upgrades China on Three Recommendations in Follow-up

By Manesh Samtani | 01/10/2020

This is to reflect progress on regulating online lending, guidance issued to online lending and other DNFBP sectors, and China’s prohibition on virtual asset activities.

AML / KYC

Taiwan to Set New AML/CFT Rules for Accountants

By Editors | 01/10/2020

Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

AML / KYC

BSP Set to Issue Revised Rules on Virtual Assets

By Sanday Chongo Kabange | 30/09/2020

The revisions are aimed at addressing identified gaps and aligning the framework with FATF guidance for regulating VASPs.

AML / KYC

HKMA to Enhance AML/CFT Supervision Through Data & Tech

By Manesh Samtani | 29/09/2020

The HKMA intends to increase its engagement and data collection, make better use of data, and utilise suptech tools to enhance its AML/CFT supervision.

AML / KYC

US Law Firms Look to Capitalise from FinCEN Files

By Editors | 29/09/2020

US law firms are inviting investors to participate in class actions if they lost money in HSBC and StanChart stock following the release of the FinCEN Files.

AML / KYC

GLEIF Defines New Framework to Simplify, Accelerate LEI Issuance

By Manesh Samtani | 29/09/2020

Many of the labor intensive and time-consuming procedures performed to obtain an LEI are the same as those performed by the FI during onboarding.

AML / KYC

The New Cold War Is Financial

By Tom Keatinge | 29/09/2020

Banks and financial infrastructure are emerging as an expanding front in geopolitics, writes RUSI’s Tom Keatinge.

AML / KYC

Crypto Industry Responds to FATF Red Flag Report

By Nathan Smale | 28/09/2020

New guidance from the FATF has been welcomed by the crypto industry, despite the compliance challenges it presents, writes Nathan Smale at Emfarsis.

AML / KYC

Gaming Out Sanctions Risk

By Eric A. Sohn | 27/09/2020

Sanctions specialist Eric Sohn explains how wargaming exercises can be used as a risk management tool to game out threats and enhance strategic planning.