AML / KYC

AML / KYC

Indonesia Blocks Online Gamblers from Accessing Financial Services

By Nithya Subramanian | 03/09/2024

Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.

AML / KYC

Singapore Proposes Law to Empower Police to Stop Scams

By Nithya Subramanian | 03/09/2024

The proposed law will allow police to restrict banking transactions for victims who refuse to believe they are being scammed.

AML / KYC

New Zealand to Introduce AML Amendment Bill in November

By Sanday Chongo Kabange | 03/09/2024

A new cabinet paper sets out 25 proposals for further amendments to New Zealand’s AML/CFT Act.

Enforcement

SFC Imposes Lifetime Ban on Former UBS Associate Director

By Sanday Chongo Kabange | 03/09/2024

The former associate director was banned for life following his conviction for laundering $1.8mn that he stole from UBS.

Crypto / Digital Assets

Indian Court Orders Takedown of Scam Crypto Websites

By Ajoy K Das | 03/09/2024

The order was granted after crypto firm Mudrex filed legal action to stop investors being scammed by websites using its name and brand.

AML / KYC

Thai Banks Have Fully Implement Anti-Money Mule Measures: BOT

By Nithya Subramanian | 02/09/2024

The measures include sharing information through the Central Fraud Registry and blocking high-risk customers from opening accounts.

AML / KYC

HKMA Fines WeChat Pay for AML Control Deficiencies

By Sanday Chongo Kabange | 02/09/2024

WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

Enforcement

China Extradites Crime Syndicate Ringleaders to South Korea

By Editors | 01/09/2024

The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

Enforcement

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.