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AML / KYC
Securities / Derivatives
SEBI Relaxes Timeline for FPIs to Disclose Material Changes
By Ajoy K Das | 06/06/2024
“Type I” material changes must be disclosed within seven days, but supporting documents can be provided within 30 days.
Enforcement
Myanmar Cracks Down on Cross-border Remittances
By Editors | 06/06/2024
“Hundi” cash transfer services and overseas property deals are being blamed for a severe depreciation of Myanmar’s currency.
AML / KYC
17 Others Involved in Singapore Money Laundering Probe – Report
By Nithya Subramanian | 06/06/2024
The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.
AML / KYC
US Authorities Accused of Ignoring Evidence Against StanChart
By Editors | 06/06/2024
A whistleblower says US officials falsely denied that he had provided useful information in order to have his claim for a whistleblower reward dismissed.
AML / KYC
US Authorities Arrest Epoch Times CFO for Money Laundering
By Editors | 06/06/2024
The DOJ alleges Weidong Guian participated in a “sprawling, transnational scheme” to launder $67mn million of crime proceeds.
Big Picture
Fraud Constitutes 37pc of All Financial Crimes – Report
By Mark Johnston | 05/06/2024
Fraud accounted for 37% of financial crime records reviewed by LSEG Risk Intelligence for its inaugural fraud analysis.
AML / KYC
AUSTRAC Issues New Guidance on Money Mule Detection
By Sanday Chongo Kabange | 04/06/2024
The new financial crime guide was developed in response to an increasing trend for foreign students to be used as money mules.
AML / KYC
APAC Regulators Form New Anti-Scam Working Group
By Sanday Chongo Kabange | 04/06/2024
ASIC will lead the working group, which also comprises MAS and the FMA. The regulators will share more scam-related information and build up capacity and cooperation.
AML / KYC
Westpac Sues Insurers to Recover Part of 2020 AUSTRAC Fine
By Sanday Chongo Kabange | 04/06/2024
The legal action is aimed at recovering A$400mn that Westpac believes should have been paid out to offset its 2020 AUSTRAC penalty.
AML / KYC
Korea to Develop AI Service to Counter Voice Phishing Scams
By Manesh Samtani | 04/06/2024
Authorities have agreed to share de-identified call data with private companies for use in developing AI services to prevent voice phishing scams.
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