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ASIFMA Releases Best Practices For Anti-Money Laundering/Know-Your-Client In Asia

Trade association ASIFMA today released a new report “Best Practices for Anti-Money Laundering/Know-Your-Client (AML/KYC) in Asia”. The report addresses the key developments needed in Asia to raise and harmonise standards in a fragmented market and ensure the region is prepared to meet the complex challenges that lie ahead.  Herbert Smith Freehills co-authored the report.  “Many of the AML/KYC implementation issues remain high on the global agenda – and for good reason,” said Mark Austen, CEO of ASIFMA. “Differing guidelines and regulations among jurisdictions in Asia as well as divergent interpretation of these guidelines and regulations among financial institutions have led to fragmentation, inconsistencies and...