AML / KYC

Enforcement

HK Customs Arrests 23 Men for Money Laundering via Air Travel

By Mark Johnston | 16/06/2023

HK Customs officers seized HKD 43 million and arrested 23 men for laundering HKD 720 million via air passengers.

AML / KYC

UK Unveils Measures to Increase Corporate Accountability for Crime

By Editors | 16/06/2023

Under the reform plan, businesses involved in fraud, money laundering, and bribery will be subject to stricter scrutiny.

AML / KYC

US Lawmakers Introduce Bills to Increase FinCEN Accountability

By Editors | 15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

AML / KYC

Singapore Minister Calls for Global Cooperation on Scams

By Karen Ng | 15/06/2023

Minister of State Sun Xueling said every country needs to set up the equivalent of an Anti-Scam Command and participate in information sharing

AML / KYC

Experts Critical of FATF Effectiveness in Combating Kleptocracy

By Manesh Samtani | 14/06/2023

Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

By Editors | 13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

AML / KYC

India Accuses Xiaomi and Global Banks of Breaking FX Rules

By Karen Ng | 13/06/2023

Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.

AML / KYC

Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

By Editors | 12/06/2023

The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.

AML / KYC

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

By Manesh Samtani | 12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.