AML / KYC

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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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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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