AML / KYC

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    Fintech / Regtech

    CBA, JPM to Pilot Cross-border Bank Account Validation

    By Nithya Subramanian | 04/06/2024

    CBA’s pilot involves the sharing of limited payee account data through its NameCheck technology on JP Morgan’s Liink network.

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    AML / KYC

    Hong Kong Court Jails Ex-BEA Manager for Bribery Offences

    By Sanday Chongo Kabange | 04/06/2024

    The former senior relationship manager accepted bribes to help intermediary companies open BEA accounts for their clients.

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    AML / KYC

    Japan’s AML Landscape and the Need for Effective Governance

    By Bradley Maclean | 03/06/2024

    Former regulator and AML subject matter expert Hiroshi Ozaki discusses Japan’s financial crime threat landscape and how firms can mitigate risk through effective governance.

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    AML / KYC

    APAC FIUs Launches Regional Intelligence Sharing Platform

    By Sanday Chongo Kabange | 03/06/2024

    The new platform will allow for real-time sharing of information, case studies and technologies among Australasian and ASEAN FIUs.

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    AML / KYC

    Tokenisation Will Improve Correspondent Banking Model: BIS Paper

    By Manesh Samtani | 01/06/2024

    The next generation of correspondent banking will make “previously closed corridors economically viable once again”.

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    AML / KYC

    Singapore Hands Down 8th Sentence in Money Laundering Case

    By Nithya Subramanian | 31/05/2024

    Chinese national Lin Baoying has been sentenced to 15 months in jail and will forfeit 90% of the S$170.5mn of assets seized from her.

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    AML / KYC

    Switzerland Fines UBS for Yemen-Linked AML Failures

    By Editors | 31/05/2024

    The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

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    AML / KYC

    Swift Announces Industry Partnership to Combat Fraud With AI

    By Editors | 31/05/2024

    FIs will share data with privacy-preserving controls so that AI can be used to detect fraud patterns from a “much richer dataset”.

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    AML / KYC

    European Council Adopts New AML Regulatory Package

    By Nithya Subramanian | 31/05/2024

    This is the final step of the adoption procedure. The texts will now be published in the EU’s Official Journal and enter into force.

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    AML / KYC

    AUSTRAC Accepts Enforceable Undertaking from Sportsbet

    By Sanday Chongo Kabange | 30/05/2024

    The undertaking binds the online betting company to an ongoing remedial action plan to improve its AML/CTF programme.

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