AML / KYC

AML / KYC

UPDATED: MONEYVAL Publishes Six AML/CFT Progress Reports

By Editors | 07/05/2024

Cyprus, Lithuania and Poland were each upgraded on one recommendation.  Croatia was upgraded on seven recommendations.

AML / KYC

US Prosecutors Secure Guilty Plea from Ex BTC-e Operator

By Editors | 06/05/2024

Alexander Vinnik was facing up to 55 years in prison, but due to a plea bargain he is expected to receive a prison term of less than ten years.

AML / KYC

BSP Mandates 24-Hour Reporting for Significant Risk Events

By Mark Johnston | 06/05/2024

New BSP rules require bank and non-bank FIs to report significant ML/TF/PF risk events within 24 hours.

AML / KYC

Singapore, Hong Kong Anti Scam Units and Banks Jointly Foil Scam

By Nithya Subramanian | 06/05/2024

DBS, UOB, Singapore’s ASC, and Hong Kong’s ADCC collaborated to fully recover over S$370,000 lost by a 70-year-old victim.

Sanctions

US Officials in Malaysia, Singapore This Week to Discuss Sanctions

By Editors | 06/05/2024

Treasury’s Brian Nelson and Neil MacBride will meet with the Malaysian and Singapore financial sectors to discuss compliance and enforcement efforts.

AML / KYC

EBA’s New AML Database Set to Start Receiving Personal Data

By Editors | 05/05/2024

EuReCA was launched by the EBA in January 2022, but has so far not yet been able to collect personal data from EU supervisors.

AML / KYC

Tether to Start Monitoring Secondary Market for USDT

By Editors | 04/05/2024

Through a partnership with Chainalysis, Tether will provide sanctions monitoring, an illicit transfers detection tool, and analysis on major USDT holders.

AML / KYC

New Zealand Regulators Issue Updated CDD Guidelines

By Editors | 03/05/2024

Updated guidelines on beneficial ownership, company CDD, and enhanced CDD. New guideline on CDD for limited partnerships.

AML / KYC

Australia: Scam Losses Fall for the First Time in Six Years

By Manesh Samtani | 03/05/2024

In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.