AML / KYC

FINMA Examines UBS Process for Vetting Credit Suisse Clients

By Editors | 30/07/2024

UBS has reportedly been providing updates to FINMA on the types of wealth management clients it is on-boarding from Credit Suisse post-acquisition.

AML / KYC

China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’

By Manesh Samtani | 30/07/2024

The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.

AML / KYC

US Treasury Launches Amazon Initiative to Combat Nature Crimes

By Nithya Subramanian | 30/07/2024

The initiative will enable authorities in Amazon Basin countries to pursue money laundering investigations against illicit actors involved in nature crimes.

AML / KYC

Interpol Issues Red Notices for Hong Kong Crypto Promoters

By Sanday Chongo Kabange | 30/07/2024

The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.

Crypto / Digital Assets

New Zealand DIA Issues New AML-CFT Guidance for VASPs

By Sanday Chongo Kabange | 29/07/2024

The guidance clarifies that the travel rule does not apply to transfers to un-hosted/self-hosted wallets, but that customer due diligence is still required.

AML / KYC

Australia: Industry Body Launches ‘Online Scams Code’ for Tech Firms

By Sanday Chongo Kabange | 29/07/2024

The Code was introduced by DIGI as a “proactive initiative” to fast-track consumer protection measures ahead of mandatory codes being introduced in Australia.

Fintech / Regtech

RBI Fines Visa and Two Other Payment System Operators

By Ajoy K Das | 29/07/2024

Visa was penalised for implementing a payment authentication solution without obtaining regulatory clearance from the RBI.

AML / KYC

France Restricts Access to Beneficial Ownership Register

By Editors | 29/07/2024

Competent authorities, professionals subject to AML/CFT obligations, and certain other individuals and entities will still be able to access the data.

AML / KYC

A Whole New World for the Financial Action Task Force?

By Fatima Alsancak | 29/07/2024

With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.

AML / KYC

UK Launches Data Sharing Project to Tackle Organised Crime

By Editors | 29/07/2024

Seven UK banks will share information on customers with the NCA if certain markers of potential criminal behaviour are met.

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