AML / KYC

AML / KYC

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

AML / KYC

Ant Group Undeclared Beneficial Owners Caused IPO Suspension

By Editors | 18/02/2021

The Wall Street Journal says Ant Group’s IPO was suspended last year due to its complex ownership structure and an unease over the likely beneficiaries of the listing.

AML / KYC

Bangladesh Launches Online Account Opening for Stock Investors

By Editors | 16/02/2021

The new system will reduce the time it takes for investors to open an account and minimise the number of accounts opened using fake information, BSEC said.

AML / KYC

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

By Manesh Samtani | 16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

AML / KYC

UK Issues Draft Rules to Promote Trust in Digital Identity

By Editors | 15/02/2021

New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.

AML / KYC

GLEIF to Implement New Policies, File Formats in Global LEI System

By Editors | 15/02/2021

Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 31 March 2022, GLEIF said.

AML / KYC

AFP Charges Australian Man in Money Mule Recruitment Case

By Editors | 15/02/2021

The man is accused of recruiting individuals to unwittingly serve as money mules to launder the proceeds of crime in return for a commission.

AML / KYC

RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions

By Editors | 15/02/2021

Investors from black-listed or grey-listed FATF jurisdictions will not be allowed to acquire ‘significant influence’ in NBFCs, the RBI said.

AML / KYC

Australian Court Jails Car Wash Owner for Money Laundering

By Editors | 14/02/2021

The man used express cash deposit facilities at Perth bank branches to help launder more than A$5.6mn for an alleged criminal syndicate.