AML / KYC

AML / KYC

US Court Sentences Binance Founder to Four Months Jail

By Editors | 01/05/2024

The sentence was below the three years requested by prosecutors and the 18 month maximum recommended under federal guidelines.

Enforcement

QLD Police Charge Four for ‘Boiler Room’ Investment Fraud

By Sanday Chongo Kabange | 01/05/2024

Approximately 30 people were defrauded of over A$1.5 million between 2018 and 2021. Four people were arrested and charged.

AML / KYC

India: AMFI in Talks with SEBI to Resolve Mutual Fund KYC Logjam

By Ajoy K Das | 01/05/2024

New KYC validation process is preventing mutual fund investors from undertaking new mutual fund transactions, including redemptions.

Sanctions

Chinese Firms Turning to Illegal Channels for Russia Business

By Editors | 30/04/2024

With China’s big banks no longer processing Russia-related payments, exporters are increasingly turning to underground channels including cryptocurrency.

Enforcement

Sri Lanka Adopts Law to Enable Confiscation of Crime Proceeds

By Mark Johnston | 30/04/2024

Sri Lanka’s Cabinet approved a law that enables the tracing and confiscation of criminal proceeds, including to retrieve assets hidden overseas.

AML / KYC

HKMA Seeking to Identify Next Areas of Focus in AML Regtech

By Manesh Samtani | 29/04/2024

HKMA is inviting professional firms to recommend AML Regtech use cases where adoption rates can be targeted for increase over the next two years.

Enforcement

Law Enforcement Agencies to Boost Data Sharing: INTERPOL

By Mark Johnston | 29/04/2024

Delegates at INTERPOL’s Heads of NCBs conference identified initiatives to encourage greater operational sharing of criminal data.

AML / KYC

Message Encryption In Focus for Indian, European Authorities

By Editors | 29/04/2024

WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

AML / KYC

China Seeks Feedback on Draft Revisions to AML Law

By Editors | 29/04/2024

The scope of the law is expanded to cover non-financial businesses and professions and formally adopt the concept of “beneficial ownership”, among other changes.