AML / KYC

AML / KYC

RBNZ Issues Formal AML/CFT Warning to Citibank

By Sanday Chongo Kabange | 14/12/2023

Citibank NZ failed to pass on the identities of the originators of 64,000 wire transfers between 2017 and 2022.

AML / KYC

CBA, Vodafone Announce Scam Intelligence Sharing Partnership

By Sanday Chongo Kabange | 13/12/2023

CBA and Vodafone are sharing intelligence on SMS scams to help disrupt, detect and block fraudulent payments.

AML / KYC

AUSTRAC Announces Regulatory Priorities for 2024

By Editors | 13/12/2023

AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

AML / KYC

Korea Seeking Expanded Powers to Freeze Bank Accounts

By Editors | 13/12/2023

Authorities can already freeze accounts linked to voice phishing scams. Prosecutors are looking to expand this to target gambling and drug crime.

AML / KYC

CSRC Proposes Tougher Rules for Private Investment Funds

By Editors | 12/12/2023

Qualified investors in PE and VC funds would have to invest at least CNY 3 million, three times the current threshold.

AML / KYC

Singapore Single-Family Offices Scrutinised for Money Laundering Risks

By Ranamita Chakraborty | 12/12/2023

Legal experts advising SFOs view proposed regulatory measures as incremental steps toward AML compliance amid the financial hub’s biggest money laundering scandal.

Big Picture

IMF to Expand AML/CFT Data Analytics Capabilities

By Manesh Samtani | 11/12/2023

The IMF plans to increase focus on assessing and mitigating the macro-economic impacts of illicit flows in the global financial system.

AML / KYC

Singapore: Resorts World Sentosa Fined for AML Failures

By Editors | 11/12/2023

Resorts World Sentosa did not perform customer due diligence checks and identity verification when receiving cash from third party depositors.

Enforcement

Binance’s CZ Zhao Now Required to Remain in US Until Sentencing

By Editors | 11/12/2023

Initially, a magistrate judge appeared to be allowing Zhao to leave the US until his sentencing hearing in February. A district court judge has reversed this ruling.