AML / KYC

AML / KYC

Telecom Breach Exposes Personal Information of 750 Million Indians

By Ajoy K Das | 05/02/2024

Billed as biggest ever leak of its kind, the breach has exposed names, mobile phone numbers, addresses and Aadhaar card numbers.

AML / KYC

Multinational Firm Scammed by Deepfake Tech in Hong Kong

By Editors | 05/02/2024

A finance worker was duped in a video call by a deepfake version of his company’s CFO to transfer HKD 200 million.

AML / KYC

Former Malaysian PM Receives Partial Royal Pardon

By Editors | 04/02/2024

Najib Razak was sentenced to jail and fined in 2020 over 1MDB-related corruption. His jail sentence was cut in half and his fine was reduced.

AML / KYC

US DOJ Unseals More Charges in BTC-e Case

By Editors | 03/02/2024

Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.

Enforcement

US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

By Editors | 03/02/2024

A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

Enforcement

Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

By Editors | 03/02/2024

The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.

AML / KYC

Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism

By Editors | 02/02/2024

The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.

AML / KYC

SkyCity Agrees to Pay More Than A$70m for AML Breaches

By Editors | 02/02/2024

AUSTRAC launched civil penalty proceedings against SkyCity Adelaide in December 2022. The casino operator just raised its provision for the potential penalty.

AML / KYC

China to Amend AML Law to Address Virtual Asset Risks

By Manesh Samtani | 01/02/2024

Draft amendments bring virtual assets into scope. FIs would also be required to assess money laundering risks before adopting new technologies and launching new products.