AML / KYC

AML / KYC

Japan Announces New Measures to Combat Fraud and Scams

By Manesh Samtani | 21/06/2024

The measures include obligations for social media companies, internet service providers, telecoms companies and financial institutions.

AML / KYC

Singapore Publishes Money Laundering Risk Assessment

By Manesh Samtani | 21/06/2024

Banking is Singapore’s highest risk sector. A key ML threat is cyber-enabled fraud, typically orchestrated by criminal syndicates located overseas.

AML / KYC

BOT Unveils New Measures to Combat Money Mule Activity

By Editors | 20/06/2024

Banks will be able to immediately suspend electronic channels for individuals red-flagged in the Central Fraud Registry for owning a mule account.

AML / KYC

National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

By Editors | 20/06/2024

AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

AML / KYC

Sri Lanka Sign New MoUs to Help Combat Illicit Finance

By Ajoy K Das | 19/06/2024

Sri Lanka’s FIU signed two new information exchange agreements, one with the bribery commission and the other with its counterpart in Bahrain.

AML / KYC

Australia NASC Joins Anti-Scam Intelligence Sharing Platform

By Sanday Chongo Kabange | 19/06/2024

The NASC will be able to share and receive more intelligence such as scam phone numbers, URLs, and bank accounts and use it to protect more Australians.

AML / KYC

US Uncovers Drug Cartel Alliance With Chinese Money Launderers

By Editors | 19/06/2024

US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

AML / KYC

HSBC Breached AML Obligations in Switzerland: FINMA

By Manesh Samtani | 19/06/2024

HSBC’s Swiss private banking unit is prohibited from onboarding new PEPs until an auditor has confirmed its compliance with FINMA’s orders.

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

By Editors | 19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.