ACIP has released 2 guidance papers on approaches towards the misuse of legal persons and trade-based money laundering (TBML) during a dialogue held on 14 May. The ACIP is Singapore’s public-private collaboration to exchange views and information on anti-money ... Read More →
UK Overseas Territories to have Public Beneficial Ownership Registers
The parliament of United Kingdom made history today by voting to release beneficial ownership information on its overseas territories (OTs) publicly. The amendment requires 14 OTs to disclose the information by 2020. However, the amendment does not apply to the Crown ... Read More →
Hong Kong Releases 2018 ML/TF Risk Assessment Report
On April 30, the Hong Kong Financial Services and the Treasury Bureau has released the Money Laundering / Terrorist Financing (ML/TF) Risk Assessment Report. The report examines ML/TF threats and vulnerabilities facing Hong Kong and the steps taken to the remediate ... Read More →
G20 Adoption of Beneficial Ownership Principles Slow
In the fight against money laundering, terrorist financing, corruption, human trafficking, sanctions and tax evasion and other financial crimes, shell companies are a key instrument for beneficial owners in providing anonymity. However, a report by Transparency ... Read More →
Singapore to Ease Non-Face-to-Face Controls for New Technology Solutions
Update: The Monetary Authority of Singapore has released a circular on 8 Jan 2018 regarding using MyInfo as an official source for customer onboarding. Financial institutions would not need to obtain a photograph of the customer separately. For more details, please ... Read More →
