AML / KYC

Enforcement

Binance Founder Allowed to Return to UAE Until Sentencing

By Mark Johnston | 24/11/2023

The DOJ has appealed the decision to allow Changpeng Zhao to leave the US until sentencing on 23 February 2024.

Crypto / Digital Assets

Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks

By Mark Johnston | 23/11/2023

Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Perth Mint

By Sanday Chongo Kabange | 23/11/2023

The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.

AML / KYC

FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes

By Manesh Samtani | 23/11/2023

The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.

AML / KYC

SFC Fines Lion Futures for AML Non-Compliance

By Sanday Chongo Kabange | 23/11/2023

Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

AML / KYC

US Authorities Secure Multi-Billion Dollar Settlement from Binance

By Editors | 21/11/2023

Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.

AML / KYC

Malaysia SC to Launch New Anti-Scam Search Portal by Year-End

By Editors | 20/11/2023

By mid 2024, BNM and PayNet will also have finished building the new National Fraud Portal, a “smart system” for tracing fund movements and identifying money mules.

AML / KYC

RBI Allows Banks to Give Exporters Extra Flexibility in Trade Transactions

By Ajoy K Das | 20/11/2023

Banks maintaining special rupee vostro accounts are permitted to open an additional special current account for exporters.

AML / KYC

FATF Revises Standards to Improve Asset Recovery Outcomes

By Manesh Samtani | 19/11/2023

FATF has revised its Recommendations and published a new report to promote the use of Asset Recovery Inter-Agency Networks, or ARINs.