Huan Johnson Koh’s Post

The industry is facing regulatory clampdowns and heavier liabilities for CSP (corporate service providers). We have also been asked to provide our comments to new bills coming out very soon that is all catered to reducing AML risk. At @kimbocorp and @InProved, both companies do still operate actively in the space of creating and managing entities and will always adapt, and even lead, the activation of new rules. We continue to commit to safeguard the sector against such risks and look forward to working with partners and customers who do view governance and compliance (doing the right thing) as a critical must-have. #familyoffice #virtualbusiness #holdco

The industry is facing regulatory clampdowns and heavier liabilities for CSP (corporate service providers). We have also been asked to provide our comments to new bills coming out very soon that is all catered to reducing AML risk. At @kimbocorp and @InProved, both companies do still operate actively in the space of creating and managing entities and will always adapt, and even lead, the activation of new rules. We continue to commit to safeguard the sector against such risks and look forward to working with partners and customers who do view governance and compliance (doing the right thing) as a critical must-have. #familyoffice #virtualbusiness #holdco

The industry is facing regulatory clampdowns and heavier liabilities for CSP (corporate service providers). We have also been asked to provide our comments to new bills coming out very soon that is all catered to reducing AML risk. At @kimbocorp and @InProved, both companies do still operate actively in the space of creating and managing entities and will always adapt, and even lead, the activation of new rules. We continue to commit to safeguard the sector against such risks and look forward to working with partners and customers who do view governance and compliance (doing the right thing) as a critical must-have. #familyoffice #virtualbusiness #holdco

Swipe left to uncover the consequences of Non-Compliance with the Anti-Money Laundering Act 2001 in Malaysia. Our Risk Check helps your Organization meet the necessary Regulatory Due Diligence requirements outlined in Bank Negara Malaysia's Anti-Money Laundering (AM LA)Act, enabling you to mitigate financial risks and ensure compliance with Anti-Money Laundering regulations. Talk to us at info@verityintel.com to learn more about Risk Check! #verityintelligence #verityintel #AMLA #AMLAcompliance #antimoneylaundering #moneylaundering #riskscreening #backgroundcheck #riskcheck #backgroundscreening

Singapore-based lawyers, Calvin Chan, Hagen Rooke, Jun Qi Chin and Evelyn Tan outline key practical consideration that financial institutions and other businesses need to be cognizant of for anti-money laundering (AML) compliance purposes in light of the current legal and regulatory landscape in Singapore in a recently published Reed Smith exclusive in-depth article. Some key takeaways include the MAS' review of financial institutions' readiness to counter the risks of illicit activity, recent legislative and regulatory reforms relating to AML, and the MAS’ supervisory and enforcement approach in this space. Read the full article below. https://lnkd.in/gaMuufTM Our Singapore-based enforcement/investigations and financial regulatory team regularly advise on a range of matters in the financial services sector, providing guidance on matters in not just Singapore but the wider Asia-Pacific region as well. We are able to assist you with: - Governance and internal processes - Licensing and perimeter guidance - Cross-border advice and surveys - Conduct of business - Engaging with regulators - Investigations and enforcement #Singapore #AML

As Business Owners, you're likely familiar with the term 'Money Laundering.' Every day, we hear about such cases. But do you know how to ensure you are compliant? Let's begin with the basics and understand what Anti-Money Laundering (AML) requirements in Malaysia, is all about. Swipe to continue reading. #VerityIntel #VerityIntelligence #RiskCheck #MoneyLaundering #AntiMoneyLaundering #AML #AMLA #AMLCompliance #AMLACompliance #AMLMalaysia #RiskScreening #BackgroundCheck

Recent regulatory changes reflect Singapore's view on its serious commitment to combat money laundering activities. In this article, members of the Virtus Law LLP (Stephenson Harwood (Singapore) Alliance) banking and finance team Colin Jarraw and Jamie Loh explore updates to the key AML regulations in Singapore and how Know Your Customer (KYC) checks help companies and individuals. Read more here: https://lnkd.in/eiehnj24 #AntiMoneyLaundering #Regulation #Compliance

Recent regulatory changes reflect Singapore's view on its serious commitment to combat money laundering activities, 🇸🇬 💰. In this article, Colin Jarraw and Jamie Loh explore updates to the key AML regulations in Singapore and how Know Your Customer (KYC) checks help companies and individuals. Read more here: https://lnkd.in/eiehnj24 #AntiMoneyLaundering #Regulation #Compliance Stephenson Harwood LLP; Stephenson Harwood - Wei Tu (China); and Virtus Law LLP (Stephenson Harwood (Singapore) Alliance).

📰 [...] Due to #global instability, the expectations for companies to know their business #partners and ensure compliance with laws are rising. Concepts like #ESG (Environmental, Social, Governance), compliance, and KYC (Know Your Customer) are becoming more established in the #Finnish market. [...] 📢 In this article, our member Suomen Asiakastieto Oy published an article about how to avoid financing war and money laundering. 👉 If you want to find out more about this topic, don't hesitate to read the article published on the BIGnet Alliance website ⬇️ https://lnkd.in/eU6DteDe #ThingBIG #War #Moneylaundering #Compliance

As new laws in Singapore see fines quadruple for corporate service providers that do not comply with anti-money laundering obligations, I shared the following insights at the 9th Chartered Secretaries Institute of Singapore (CSIS) Conference on latest trends and challenges in the conduct of CDD/KYC: 1. Assess the integrity of electronic supporting documents against a trend of increasing incidence of fraudulent or tampered documents 2. Leverage network link analysis to assess the broader web of relationships - the issue may not be the target itself but may lie with its portfolio of the business partners as the red flags 3. In Asia, consider conducting searches in local databases (e.g. judicial cases) and local language to be more effective at identifying negative news As a global financial hub, Singapore must stay vigilant and look out for new loopholes that criminals might exploit. It was a great pleasure to be on the panel with Adrian Ang, Martin Lim and our moderator Chye Kit Chionh and to learn from their perspectives too. #EYforensics #CDD #AMLCFT