AML / KYC

AML / KYC

UK FCA Fines Metro Bank for Transaction Monitoring Failures

By Nithya Subramanian | 14/11/2024

A data-feeding error meant 60 million transactions were not monitored by Metro Bank over a four-year period.

AML / KYC

Unlocking the Potential of AI in Financial Crime Compliance

By Bradley Maclean | 14/11/2024

New research explores the potential of AI in financial crime compliance, highlighting pressing pain points and offering a roadmap for adoption.

AML / KYC

OFAC Probes UBS for Russia Risk from Credit Suisse Takeover

By Editors | 13/11/2024

OFAC is reportedly seeking information from UBS about the Russian clients the bank took on when it bought Credit Suisse in March 2023.

AML / KYC

Spanish Police Chief Arrested Over Links to Criminal Gangs

By Nithya Subramanian | 13/11/2024

Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

AML / KYC

Australia’s AGD Issues Supplementary Submission on AML Amendment Bill

By Thisanka Siripala | 13/11/2024

The AGD responds to issues raised in submissions to the Senate Legal and Constitutional Affairs Legislation Committee on certain aspects of the Bill.

AML / KYC

China Approves Passage of Revised Anti-Money Laundering Law

By Manesh Samtani | 13/11/2024

The revised law takes effect on 1 January 2025, strengthening FIs’ AML obligations, increasing penalties for breaches, and enabling China to introduce its own high-risk country list.

AML / KYC

Vietnam: SBV to Establish New Anti-Money Laundering Department

By Editors | 12/11/2024

The new department is part of amendments to the functions, missions, authority and organisational structure of the State Bank of Vietnam.

AML / KYC

Asian FinTech Associations Sign MoU on Anti-fraud Collaboration

By Editors | 12/11/2024

14 Asian FinTech associations signed an MoU last week at an event hosted in Taiwan to enhance collaborations in anti-fraud.

AML / KYC

Singapore Introduces Bill to Give Police Additional Anti-Scam Powers

By Nithya Subramanian | 12/11/2024

The bill will allow the police to impose restrictions on individuals’ bank accounts and credit access if necessary to protect them from scams.