AML / KYC

AML / KYC

US Court Sentences Lawyer for “OneCoin” Fraud to 20 Years

By Editors | 01/02/2024

Mark Scott, formerly an equity partner at international law firm Locke Lord LLP, laundered $400mn of proceeds from the OneCoin fraud scheme.

AML / KYC

Australia-US Agreement on Electronic Data Access Comes Into Force

By Editors | 01/02/2024

The agreement will better enable US and Australian agencies to prevent, detect, investigate, and prosecute serious crimes.

Enforcement

NYAG Sues Citi for Failing to Protect Customers from Fraud

By Editors | 31/01/2024

NYAG says Citi does not implement strong anti-fraud defences, misleads account holders about their rights, and illegally refuses to reimburse fraud victims.

AML / KYC

Taiwan Launches Campaign to Drive Anti Fraud Innovation

By Sanday Chongo Kabange | 31/01/2024

The campaign will use seminars, co-creation workshops, and pilot testing to promote innovative approaches to combatting fraud.

Securities / Derivatives

India’s IFSCA Issues Eligibility Criteria for Accredited Investors

By Ajoy K Das | 30/01/2024

The GIFT City regulator has specified criteria for individuals, sole proprietorships and other investment entities who can be deemed accredited investors.

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.