Singapore will soon have a regulatory framework on the prevention of money laundering and countering the financing of terrorism for payment services. In a parliament session held on 3 October 2017, Deputy Prime Minister (DPM) and Minister in charge of the Monetary A ... Read More →
Latest updates around the world on AML/CFT.
In a joint release on Tuesday, OCBC Bank, HSBC, Mitsubishi UFJ Financial Group (MUFG) and the Infocomm Media Development Authority (IMDA) have developed and tested a KYC blockchain – a first in South-east Asia.The prototype is said to be able to solve current p ... Read More →
The Basel Committee on Banking Supervision (BCBS) released a consultation paper on the implications of fintech for the financial sector last Thursday on August 31st named, Sound Practices: Implications of fintech developments for banks and bank supervisors. The paper ... Read More →
Hong Kong - The Securities and Futures Commission (SFC) and the Hong Kong Police (HKP) signed a Memorandum of Understanding (MoU) on 25th August 2017 to formalise and strengthen cooperation in combating financial crime.Hong Kong operates the sixth largest stock ... Read More →
The Office of Foreign Assets Control (OFAC) has designated 16 entities and individuals for activities related to supporting the Democratic People's Republic Korea's (North Korea) nuclear and ballistic missile programs, energy trade, labour exports, and sanctions ... Read More →