AML / KYC

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.