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AML / KYC
Taiwan Banks Blocked TWD 5.5 billion in Fraud in 2023
By Mark Johnston | 28/11/2023
CTBC Bank, Cathay United Bank and Chunghwa Post each blocked more than 1,100 fraud attempts from Q1 to Q3.
AML / KYC
13 FIUs Establish Task Force to Disrupt Terrorist Financing
By Editors | 28/11/2023
The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.
AML / KYC
India’s IFSCA Proposes Accredited Investor Framework for GIFT City
By Ajoy K Das | 28/11/2023
Minimum investment thresholds applicable to venture capital schemes, restricted schemes, and portfolio management services would not apply to accredited investors.
AML / KYC
HK Police, Banks Inaugurate New “Anti-Deception Alliance”
By Editors | 27/11/2023
Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.
Capital / Liquidity
China Finalises Bank Rules on Country Risk Management
By Editors | 27/11/2023
Banks must establish “formal internal country risk rating systems” and set aside proportionate reserves for country risk.
AML / KYC
Australia Unveils First Quarterly Report from New Anti-Scam Centre
By Editors | 26/11/2023
The quarter ended with reported scam losses of A$29.8mn in September 2023, the lowest reported in a single month since October 2021.
AML / KYC
Australian Banks Launch “New Offensive” Against Scams
By Manesh Samtani | 24/11/2023
Priority initiatives to make banking safer include a new confirmation of payee system and expanded intelligence sharing.
Enforcement
Binance Founder Allowed to Return to UAE Until Sentencing
By Mark Johnston | 24/11/2023
The DOJ has appealed the decision to allow Changpeng Zhao to leave the US until sentencing on 23 February 2024.
Crypto / Digital Assets
Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks
By Mark Johnston | 23/11/2023
Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.
AML / KYC
AUSTRAC Accepts Enforceable Undertaking from Perth Mint
By Sanday Chongo Kabange | 23/11/2023
The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.
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