AML / KYC

AML / KYC

Former EU Justice Commissioner Investigated for Money Laundering

By Nithya Subramanian | 05/12/2024

Belgian police searched the homes of Didier Reynders amid allegations of laundering funds through lottery ticket purchases.

AML / KYC

US, UK Target Major Russian Sanctions Evasion Network

By Editors | 05/12/2024

OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

AML / KYC

Australia Directs ACMA to Operate ‘Mandatory’ SMS Sender ID Register

By Sanday Chongo Kabange | 05/12/2024

The ACMA is directed to develop an enforceable industry standard for a mandatory ‘SMS Sender ID Register’ to protect against scams.

AML / KYC

FBI Issues Alert on Use of GenAI for Sophisticated Scams

By Thisanka Siripala | 04/12/2024

The alert includes specific examples of how criminals are exploiting GenAI in fraud schemes to raise public awareness and encourage vigilance

AML / KYC

Malaysia Proposes Stricter Laws to Target Harm from Online Content

By Nithya Subramanian | 04/12/2024

The proposed amendments aim to curb objectionable online content to curb scams, online gambling, bullying and pornography.

AML / KYC

HKMA Announces Two New Anti-Scam Measures for Banks

By Sanday Chongo Kabange | 04/12/2024

“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.

AML / KYC

Basel Institute on Governance Publishes 2024 Basel AML Index

By Manesh Samtani | 04/12/2024

In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

AML / KYC

UK FCA Finalises Updates to Financial Crime Guide

By Editors | 04/12/2024

The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

AML / KYC

Taiwan Executive Yuan Approves “Version 2.0” Anti-Fraud Action Plan

By Manesh Samtani | 03/12/2024

The FSC also issued new regulatory guidelines for FIs and VASPs on preventing the fraudulent use of financial services.