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Shared KYC database “a step in the right direction”, but legislative changes necessary

The Monetary Authority of Singapore’s (MAS) shared KYC database is a “step in the right direction”, although legislative changes are required for the initiative to become meaningful to private banks, Jo Pearson, partner at Simmons & Simmons, tells Asian Private Banker. “I think a common KYC database should greatly improve AML effectiveness and the MAS’ KYC utility is a step…

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