Last week, the Financial Crimes Enforcement Network (FinCEN) published an Advance Notice of Proposed Rulemaking (Notice) to obtain public comments on proposed enhancements to anti-money laundering (AML) programs. The Notice discusses new regulations requiring financial service providers to adopt “effective and reasonably designed” AML programs. If you are subject to AML regulations, soon you may need to revisit your current AML policy. FinCEN’s notice is often published before adopting new regulations and demonstrates areas where FinCEN is focusing attention.
The Notice suggests the following changes:
1. Adoption of new regulation clearly defining an ‘‘effective” and “reasonably designed’’ AML program
According to FinCEN, a compliant AML program…
ARGOS wins 2nd place in the 9th Asan Nanum Foundation Chung Ju Yung Startup Competition!
We are proud to announce that ARGOS wins the second place in the 9th Asan Nanum Foundation Chung Ju Yung Startup Competition, a nationwide competition for young entrepreneurs.
“I am very happy to receive good results at the Asan Nanum Foundation’s Chung Ju-yung Startup Competition,” said Son Sung-ho, director of Argos, who was in charge of Demo Day’s presentation. “We will continuously strive to become the №1 non-face-to-face ID verification and anti-money laundering risk analysis service in the global market beyond Korea.”
This marks the nineth Asan Nanum Foundation Chung Ju Yung Startup Competition since 2012. This year the competition received over 1,220 entries from growing startups. A total of 11 team, including Argos KYC, have advanced to the final round, beating the competition ratio of 110 to 1. …
Argos KYC, APAC CIO Outlook Top 10 RegTech Solution Providers of the Year
APAC CIO Outlook’s RegTech edition focuses on the top regulatory technology solution providers and aims to identify the key players in this landscape for showcasing their expertise in solving impediments and overcoming market complexities.
Argos KYC was nominated as one of the top 10 RegTech solution providers of the year. …