AML / KYC

AML / KYC

Singapore and Malaysia Join Forces to Combat Telecom Scams

By Ranamita Chakraborty | 28/02/2024

Both countries have signed an MoU to provide regulatory assistance and cooperation related to scam telephone calls and text messages.

AML / KYC

FATF Consults on R.16 Changes to Improve Payment Transparency

By Manesh Samtani | 27/02/2024

The revisions would help guard against fraud by requiring beneficiary FIs to check the alignment of beneficiary information in payment messages.

AML / KYC

AUSTRAC Issues Draft Guidance on AML/CTF Outsourcing Arrangements

By Manesh Samtani | 27/02/2024

The guidance is intended to help reporting entities comply with their AML/CTF obligations when outsourcing to external providers.

Crypto / Digital Assets

DOJ Proposes Stricter Bond Conditions for Binance Founder

By Mark Johnston | 27/02/2024

Judge approves Binance’s settlement. Prosecutors propose stricter bond conditions for founder Changpeng Zhao until sentencing.

AML / KYC

UK FCA Probes Lloyds Banking Group Over AML Controls

By Mark Johnston | 26/02/2024

Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

Enforcement

MAS, SPF Probe Samlit Moneychanger for Fraudulent Activities

By Nithya Subramanian | 26/02/2024

The money remittance company has informed the Monetary Authority of Singapore that it is planning to surrender its payment services licence.

Crypto / Digital Assets

HK Crime Cases Involving Crypto Have Tripled Since 2021

By Mark Johnston | 25/02/2024

The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

AML / KYC

FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

By Manesh Samtani | 23/02/2024

Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

Enforcement

US Unveils Five Enforcement Actions Involving Russian Oligarchs

By Editors | 23/02/2024

The actions, including charges against the CEO of Russia’s VTB Bank, were unveiled just ahead of the two-year anniversary of the war in Ukraine.