AML / KYC

FSC Issues New Standard on Fraud and Scam Mitigation for Super Funds

By Sanday Chongo Kabange | 02/07/2024

The new standard requires funds to implement multifactor authentication for all high-risk transactions and to have clear procedures to prevent fraudulent events.

AML / KYC

FinCEN Proposes Rule to Enhance FIs’ AML/CFT Programmes

By Editors | 02/07/2024

The rule will explicitly require AML/CFT programmes to be “effective, risk-based, and reasonably designed” based on a risk assessment.

AML / KYC

US Sanctions Two Chinese Nationals for Assisting Sinaloa Cartel

By Editors | 01/07/2024

The sanctions include two China-based targets who helped launder illicit drug proceeds belonging to Mexico’s Sinaloa Cartel.

AML / KYC

Wolfsberg Group Calls for More Effective Approach to SARs/STRs

By Manesh Samtani | 01/07/2024

Wolfsberg Group says the value being derived from the constantly increasing volume of SARs/STRs is not contributing proportionately to effective outcomes.

AML / KYC

Australia Law Body Issues Guidance on AML

By Sanday Chongo Kabange | 01/07/2024

The guidance will safeguard legal practitioners from being “unwittingly” misused by financial criminals.

Enforcement

US DOJ, Jho Low Reach Global Pact on 1MDB Asset Forfeiture: Report

By Nithya Subramanian | 01/07/2024

The agreement forever resolves the United States’ civil, criminal and administrative asset forfeiture actions of monies and assets traceable to 1MDB.

AML / KYC

FATF Adds Monaco, Venezuela to Grey List; Removes Two Others

By Manesh Samtani | 01/07/2024

The Plenary also adopted two new country assessments and approved five priorities for the incoming Mexican Presidency.

AML / KYC

SEBI Seeking to Ease Access to Sovereign Bonds for FPIs

By Editors | 28/06/2024

SEBI is looking to eliminate many of its information requirements, such as disclosure of investor group and beneficial ownership.

Securities / Derivatives

SEBI Raises Threshold Limit for Basic Demat Accounts

By Editors | 28/06/2024

The higher threshold is aimed at encouraging small investors to trade in the stock market and ensure their financial inclusion.

AML / KYC

Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud

By Editors | 28/06/2024

Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.

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