AML / KYC

AML / KYC

OFAC Issues Guidance on Humanitarian Aid to Palestinians

By Editors | 15/11/2023

OFAC says guidance is intended to help NGOs navigate US sanctions while providing aid to Palestinian people.

AML / KYC

Basel AML Index: AML/CFT Systems Have Become Less Effective

By Editors | 14/11/2023

The 2023 Basel AML Index highlights a drop in the effectiveness of AML/CFT systems and inadequate compliance globally with the FATF standards for virtual assets.

AML / KYC

Myanmar Receives Rating Upgrade for FATF Recommendation 14

By Editors | 13/11/2023

Myanmar made “minimal progress” but was re-rated on Recommendation 14 for its revised regulations for remittance businesses.

AML / KYC

Cambodia Receives Rating Upgrade for FATF Recommendation 7

By Editors | 13/11/2023

Cambodia’s rating was upgraded due to a law that implements targeted financial sanctions for WMD proliferation and financing.

AML / KYC

US Fed Probing Morgan Stanley AML Controls – Report

By Editors | 12/11/2023

The Fed is reported to be assessing whether Morgan Stanley has sufficient controls in place to prevent wealthy foreign customers from laundering money.

AML / KYC

FATF Re-Rates Thailand on Two Recommendations

By Editors | 10/11/2023

Re-ratings were due to legal requirements for FIs and DNFBPs to conduct risk-based CDD and AMLO guidance on risk-based supervision.

Crypto / Digital Assets

Taiwan Authorities Arrest Two Individuals Linked to JPEX

By Editors | 10/11/2023

Investors in Taiwan have initiated legal action against the allegedly fraudulent crypto exchange, which first came under regulatory scrutiny in Hong Kong.

AML / KYC

FATF Calls for Action to Combat Cyber-Enabled Fraud

By Manesh Samtani | 10/11/2023

Cyber-enabled fraud and related money laundering are facilitated by professional enablers, money mules, shell companies, and different types of FIs including VASPs.

Enforcement

US Prosecutors Secure Guilty Plea from OneCoin Executive

By Mark Johnston | 10/11/2023

Irina Dilkinska was in charge of compliance at OneCoin, a global crypto scam that lured investors with false promises of high returns.