Thomson Reuters Chosen by Tencent Subsidiary to Offer AML and KYC Solutions
- With the selection of its AML and KYC solutions Thomson Reuters helps firms respond to threats and comply with regulations.
Tencent’s subsidiary, Money Data Ltd, has selected Thomson Reuters Risk solutions to comply with the Hong Kong Monetary Authority’s (HKMA) Anti Money Laundering (AML) and Countering the Financing of Terrorism (CFT) licensing requirements. This follows its successful application in obtaining the Stored Value Facilities (SVF) license under the Payment Systems and Stored Value Facilities Ordinance.
Regulatory Technology Revolution
As a provider of services such as WeChat Pay, which enables WeChat users to transfer money, make Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term online and with participating retailers, Money Data implemented Thomson Reuters’s Risk solutions to assist in adhering to HKMA regulatory requirements.
The selection reaffirms the strength of Thomson Reuters, which last week teamed up with independent research firm New Constructs to offer innovative investment research to Thomson ONE North American Wealth Management clients, along with its prominent position in the regulatory technology revolution.
Thomson Reuters World-Check Risk Intelligence is a structured database on politically-exposed persons (PEPs) and heightened risk individuals and organizations globally.
Thomson Reuters provides comprehensive Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term solutions that help increase and protect a firm’s transparency and accountability.
World-Check data helps customers identify threats and comply with legislation and regulations for preventing money laundering, terrorist financing, corruption, organized crime and third party risk. Money Data has selected both web and software solutions of World-Check for simple integration in aiding their KYC workflow.
Sanjeev Chatrath, Managing Director, Financial & Risk, Asia Pacific, Thomson Reuters, said: “With the selection by Tencent of our AML and KYC solutions, Thomson Reuters continues our commitment to assist leading corporations respond to increased threats as well as comply better to regulatory requirements in the Asia region”.
He added: “For any regulated firm to thrive in the long term, consistent investment needs to be made in the risk, compliance and control functions. With heightened scrutiny on regulatory requirements around the globe, Thomson Reuters provides comprehensive, tailor-made and timely risk management solutions that help to increase and protect a firm’s transparency and accountability.”
Tencent’s subsidiary, Money Data Ltd, has selected Thomson Reuters Risk solutions to comply with the Hong Kong Monetary Authority’s (HKMA) Anti Money Laundering (AML) and Countering the Financing of Terrorism (CFT) licensing requirements. This follows its successful application in obtaining the Stored Value Facilities (SVF) license under the Payment Systems and Stored Value Facilities Ordinance.
Regulatory Technology Revolution
As a provider of services such as WeChat Pay, which enables WeChat users to transfer money, make Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term online and with participating retailers, Money Data implemented Thomson Reuters’s Risk solutions to assist in adhering to HKMA regulatory requirements.
The selection reaffirms the strength of Thomson Reuters, which last week teamed up with independent research firm New Constructs to offer innovative investment research to Thomson ONE North American Wealth Management clients, along with its prominent position in the regulatory technology revolution.
Thomson Reuters World-Check Risk Intelligence is a structured database on politically-exposed persons (PEPs) and heightened risk individuals and organizations globally.
Thomson Reuters provides comprehensive Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term solutions that help increase and protect a firm’s transparency and accountability.
World-Check data helps customers identify threats and comply with legislation and regulations for preventing money laundering, terrorist financing, corruption, organized crime and third party risk. Money Data has selected both web and software solutions of World-Check for simple integration in aiding their KYC workflow.
Sanjeev Chatrath, Managing Director, Financial & Risk, Asia Pacific, Thomson Reuters, said: “With the selection by Tencent of our AML and KYC solutions, Thomson Reuters continues our commitment to assist leading corporations respond to increased threats as well as comply better to regulatory requirements in the Asia region”.
He added: “For any regulated firm to thrive in the long term, consistent investment needs to be made in the risk, compliance and control functions. With heightened scrutiny on regulatory requirements around the globe, Thomson Reuters provides comprehensive, tailor-made and timely risk management solutions that help to increase and protect a firm’s transparency and accountability.”