AML / KYC

Bangladesh Officials Confirm Use of Bitcoin to Finance Terrorism

13/03/2021

Two arrested militants have reportedly confessed to receiving funds through Bitcoin from extremist groups since 2014.

Enforcement

NZ Court Fines ANZ Over Credit Card Repayment Insurance

13/03/2021

The judge said ANZ should have been “sufficiently robust” in its ability to detect issues early, given its size, resources and position in New Zealand’s market.

AML / KYC

OFAC Sanctions Adult Children of Myanmar Military Leader

11/03/2021

The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.

AML / KYC

GLEIF to Accelerate the LEI Integration in Digital Certificates

11/03/2021

GLEIF will work with Certification Authorities and Trust Service Providers to develop and promote best practices for the use of LEIs in digital certificates.

Australia Announces Expansion of SME Loan Guarantee Scheme

11/03/2021

The government will guarantee up to 80 percent of the loans under the scheme, while also increasing the loan limit and allowing larger businesses to also benefit.

AML / KYC

Singapore Police Arrest Man Over China Official Impersonation Scam

11/03/2021

The man received over S$209,000 from a woman who was told she was under investigation and needed to resolve the case.

Enforcement

ACCC Accepts Visa Commitment to Address Competition Concerns

11/03/2021

Visa is legally bound to ensuring that merchants will not pay higher processing costs if they process debit card payments through eftpos rather than the Visa network.

AML / KYC

SWIFT Embeds ESG Due Diligence in KYC Registry

11/03/2021

The integration of the ICC’s Guidelines into SWIFT’s KYC Registry allows corporates to only complete and update a single form to provide ESG information to different banking partners.

Enforcement

ICAC Charges Former AIA Employees for Fraud

11/03/2021

A former district manager and former insurance agent jointly face three counts of fraud for allegedly deceiving AIA into paying them commissions for three insurance policies.