AML / KYC

AML / KYC

Italy Busts $1.9bn Tax Fraud Scheme Involving Chinese Shadow Banks

By Mark Johnston | 30/01/2024

Italian police uncover a tax fraud involving false invoices and Chinese underground banks, seizing assets worth EUR 350 million.

AML / KYC

Samlit Moneychanger Sued After China Police Freezes Funds: Report

By Nithya Subramanian | 29/01/2024

While three Chinese nationals working in Singapore alleged breach of agreements and sought compensation. Samlit said it fulfilled all its obligations.

AML / KYC

Japan FSA Proposes to Add Jurisdictions to Travel Rule

By Editors | 27/01/2024

Eight countries were added, including the UAE, India, Indonesia, the UK, Estonia, Nigeria, Bahrain, and Portugal.

AML / KYC

India Gives Offshore Funds Time to Disclose Investors

By Mark Johnston | 26/01/2024

SEBI is reportedly allowing offshore funds seven months to disclose the identities of their investors before they are forced to liquidate their holdings.

AML / KYC

UK to Implement First Phase of Economic Crime Act

By Mark Johnston | 26/01/2024

UK outlines first set of measures under Economic Crime and Corporate Transparency Act to enhance transparency and accountability of companies.

AML / KYC

Moody’s Analytics Flags 21 Million Shell Company Risks

By Mark Johnston | 25/01/2024

More than 2,200 companies have directors aged 123 years and above, despite the fact that the oldest known human lived to 122.

Fintech / Regtech

India Expands Scope of Financial Services Offered in GIFT City

By Ajoy K Das | 24/01/2024

Ministry of finance notifies book-keeping, accounting, taxation and financial crime compliance as services that can be offered in IFSC

AML / KYC

BIS Focuses on Tokenisation, CBDCs, Green Finance Projects This Year

By Ranamita Chakraborty | 24/01/2024

BIS is ensuring “technology serves economically meaningful activities” as it advances its CBDC project and initiates a blockchain-based tokenisation project.

AML / KYC

HKMA Proposes to Extend FINEST to Personal Account Data

By Sanday Chongo Kabange | 24/01/2024

The HKMA is seeking to extend FINEST, a bank-to-bank information sharing platform launched in June, to allow sharing of personal account information.