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KYC AND AML REGULATIONS
Choosing a crypto exchange in India? Read this firstWith fees, security and ease of use all up for scrutiny, WazirX makes a strong case for being the everyday trader’s go-to platform in India...- International stock investment gets safer with Vested Finance as IFSCA grants it GAP license; Know what it means for Indian investorsVested Finance has transitioned to the IFSCA GAP framework, enabling Indian investors to access US stocks through GIFT City. This move intr...
- India is right to act on offshore crypto platforms but it must also build a fairer marketA Financial Action Task Force report backs India’s concerns that the real risk in crypto lies in offshore, non-compliant virtual asset serv...
- Redo KYC before June 30: FIU tells crypto exchangesThe Financial Intelligence Unit-India (FIU-IND) has mandated cryptocurrency exchanges to strengthen their KYC processes by June 30, adherin...
- RBI penalties up 88% in 3 yrs; KYC, AML top listThe number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Cust...
- How to be compliant & protect your crypto business from fraudIn today's world, our identity is not limited to our physical presence but extends to our digital footprint. Our digital identity represent...
- Crypto rules are needed to avoid systemic risks. But how we classify them matterGiven the digital nativity of these currencies, lack of transparency about trades and traders, and the global ubiquity of the crypto platfo...
- RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K BankThe RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
- Telcos with payments bank licences like Jio, Airtel need to do fresh KYCThis could be a big positive for the non telecom payment banks like Paytm or Fino, who have been doing KYC formalities of their customers f...
- Sebi steps up surveillance on money laundering activitiesThe capital markets watchdog has also enhanced its cooperation with other regulators and agencies in India as well as abroad for investigat...
- RBI slaps penalty on UCO Bank, Allahabad Bank, Bank of IndiaUCO Bank in a BSE filing said that RBI has "imposed a penalty" of Rs 2 crore on the Bank on account of "few lapses in adherence to KYC/AML ...
- 380 market members violated anti-money laundering rules in FY15The regulator also noted that intermediaries were permitted to depend on third parties for carrying out due diligence of their clients.
- RBI fines 2 Madhya Pradesh cooperatives under anti-money laundering, KYC rulesShow-cause notices have been issued to both the lenders and the decision to fine them after going through their respective replies, it said...
- RBI penalises 6 PSBs for violating KYC, anti-money laundering normsThe Reserve Bank of India on Friday penalised six banks for violation of know-your-customer (KYC) and anti- money laundering (AML) norms.
- RBI cracks the whip over KYC lapses, to seek explanation from banks“We had launched an investigation and the deficiencies have been conveyed to the chief executive officers of those banks, said RBI governor...
- Centralised KYC registry can happen after UCIC issuance: RBISetting up of a centralised KYC (know your customer) registry for the entire financial sector will be possible only after implementation of...
- RBI fines 48 banks for violation of KYC, AML norms in six monthsIn the first six months of 2011, the apex bank has slapped penalties on 48 erring banks, mostly co-operative, as compared to just 15 such a...
- More improvement required in FIs' AML systems: SurveyAlthough financial institutions in India have covered a large ground in anti-money laundering compliance, still significant investments and...
- Non-life firms get a breather on KYC normsThe Insurance Regulatory and Development Authority (IRDA) has relaxed anti-money laundering norms for general insurance companies on the gr...
- Play by the rule bookKnow your customer norms in the insurance sector are meant to check money laundering, but they are not perceived to be customer-friendly. I...
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