AML / KYC

AML / KYC

Singapore Shaken by Rare Corruption Probe

By Editors | 17/07/2023

A government minister and a prominent property tycoon were arrested and released on bail last week.

AML / KYC

BSEC Chairman Under Scrutiny for Links to International Fraud

By Manesh Samtani | 17/07/2023

BSEC chairman Shibli Rubayat ul Islam allegedly received $800,000 in payments from accounts linked to a $13mn fraud against Hong Kong-based Ming Global.

Crypto / Digital Assets

US Probe Prompts Staff and Executive Departures at Binance – Reports

By Editors | 17/07/2023

Over 1,000 employees have reportedly been laid off in recent weeks. A number of key senior executives have also departed.

AML / KYC

US Virgin Islands Demands $190m from JPMorgan in Epstein Case

By Editors | 17/07/2023

The territory said in a court filing that JPMorgan did not place compliance with the law and prevention of trafficking ahead of its own profits.

AML / KYC

Singapore ACIP Issues Guidance on Managing Crypto-Related ML/TF Risk

By Manesh Samtani | 17/07/2023

FIs are encouraged to actively identify customers with a nexus to cryptocurrencies, and to apply EDD where ML/TF and sanctions risks are assessed to be higher.

AML / KYC

FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency

By Ranamita Chakraborty | 14/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.

AML / KYC

Euroclear Faces $2b Lawsuit from Russian Fund Manager

By Editors | 14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

AML / KYC

BOT Offers Update on Implementation of Anti-Fraud Measures

By Mark Johnston | 14/07/2023

Banks have stopped sending links via SMS, email, and social media. Mobile banking users are also restricted to using just one device.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

By Editors | 14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.