Mylen Baluca’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 [email protected] to learn more about Risk Check! #verityintelligence #verityintel #AMLA #AMLAcompliance #antimoneylaundering #moneylaundering #riskscreening #backgroundcheck #riskcheck #backgroundscreening

Singapore’s new legislation proposes to focus on nominee directors and shareholders Singapore is preparing a new anti-money laundering (AML) regime focusing on the regulation of nominee directors. https://lnkd.in/gx_XqUbR Sathya Prakash Shaswat Misra Anil Birajdar #singaporelaw #singaporecompanyformation

The Ministry of Law in Singapore is responsible for enacting the necessary laws, regulations and guidelines for the Precious Stones and Precious Metals Sector. The source of funds and wealth documents are usually obtained by regulated dealers from high-risk customers as a part of Enhanced Customer Due Diligence (ECDD) measures prescribed by the AML/CFT regulations and guidelines for regulated dealers in the PSPM sector in Singapore. The requirement of source of funds and source of wealth documents forms part of the ‘procedures to conduct ECDD’. Check out the infographic to better understand which documents are required to establish the legitimacy of the source of funds and source of wealth and to understand the distinction between the two. 🌏 https://lnkd.in/dGZKhrZF #AMLSingapore #antimoneylaundering #duediligence #amlcompliance #compliance #peps #edd #mas #sourceoffund #sourceofwealth #amlregulations

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).

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