AML / KYC

AML / KYC

CBA Defends Against Regulators’ Allegations

By Manesh Samtani | 01/03/2018

The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.

AML / KYC

Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts

By Bradley Maclean | 01/03/2018

Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.

AML / KYC

Malaysia Issues AML/CTF Policy for Cryptocurrency Exchanges

By Manesh Samtani | 01/03/2018

Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.

AML / KYC

India to Tighten Rules for Alternative Investment Funds

By Garima Chitkara | 26/02/2018

SEBI to increase focus on source and use of funds going through the alternative investment fund framework.

AML / KYC

Indonesian Banks Start AEOI Registration to Report Customer Data

By Editors | 22/02/2018

Indonesian banks, regulators and financial infrastructure firms invited to register with the tax office under AEOI norms.

AML / KYC

New KYC Norms a Turn-off for India’s Mobile Wallet Users

By Garima Chitkara | 22/02/2018

Less than half of wallet consumers opted to be KYC-compliant before the 28 February deadline; new KYC norms will force telecom firms to verify customer data using third-parties, taking away their current advantage over other payment firms.

AML / KYC

Border Cash Declarations Won’t Halt HK Money Laundering

By Peter Guy | 19/02/2018

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

AML / KYC

Europe’s Latest AML Directive a Huge Challenge for Asian Operations

By Bradley Maclean | 14/02/2018

4th AMLD to prove a headache for Asian institutions which already share clients and data with EU-based subsidiaries, potentially influencing Asia-based parent institutions themselves.

AML / KYC

Australia Details Regulatory Framework for Open Banking

By Manesh Samtani | 13/02/2018

The government has unveiled its final report on its review on open banking, detailing 50 recommendations on implementing the new data-sharing regime.