AML / KYC

Enforcement

Indian Brokers’ AML Compliance Under Heightened Scrutiny

By Editors | 20/08/2017

SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.

AML / KYC

Philippines Removed from AML/CTF Blacklist

By Samuel Riding | 16/08/2017

Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.

AML / KYC

Pakistan’s Central Bank Releases Compliance Risk Management Guidelines

By Garima Chitkara | 10/08/2017

State Bank of Pakistan guidelines to promote a “compliance culture” in banks and encourage the adoption of a risk-focused approach to compliance.

AML / KYC

HKMA Collecting UnionPay ATM Withdrawal Data

By Garima Chitkara | 10/08/2017

Regulator has asked for number of withdrawals and amounts to regulate the use of UnionPay cards in Hong Kong.

AML / KYC

A Front Line Out of Control

By Peter Guy | 07/08/2017

Conduct and regulatory risks continue to mount as China’s crackdown on corruption puts pressure on private banks and wealth managers.

AML / KYC

CBA Responds to AUSTRAC Civil Proceedings

By Garima Chitkara | 07/08/2017

Bank claims that the missing TTRs were due to a coding error following a software update in the IDMs since November 2012 until September 2015.

AML / KYC

CBA in Alleged ‘Serious’ Breach of AML/CTF Rules

By Garima Chitkara | 03/08/2017

AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.

AML / KYC

Korea Regulator Flags Weaknesses in Foreign Banks’ AML

By Editors | 31/07/2017

FSS reveals details of AML audits covering banks and other financial services providers, says to impose strict sanctions against regulatory […]

AML / KYC

US ICO Ruling Opens ‘Can of Worms’ for Asia

By Samuel Riding | 27/07/2017

Securities and Exchange Commission’s decision to define ICOs as securities adds to uncertainty around regulatory treatment of the virtual economy. […]