AML / KYC

AML / KYC

FATF Holds First In-Person Joint Experts Meeting Since 2019

By Editors | 11/04/2023

The three day event covered themes including cyber-enabled fraud, terrorist financing through crowdfunding, and the risks and challenges associated with hawala.

AML / KYC

UK FCA Outlines Next One Year of Work to Improve Markets

By Editors | 11/04/2023

The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.

AML / KYC

Binance.US Struggling to Secure Banking Services – Report

By Mark Johnston | 08/04/2023

Binance.US previously relied on either Signature Bank or Silvergate Capital to handle its customers’ cash deposits.

AML / KYC

BSP Issues New CDD Rules to Support PhilSys Enabled e-KYC

By Sanday Chongo Kabange | 07/04/2023

The PhilSys national digital ID system is acceptable for e-KYC, provided it is supported by “robust technology, adequate governance, processes, and procedures”.

Crypto / Digital Assets

US Treasury Publishes First Ever DeFi Risk Assessment

By Manesh Samtani | 07/04/2023

Treasury calls on the private sector to use the risk assessment to inform their risk mitigation strategies, and offers recommendations on government action.

AML / KYC

AUSTRAC Provides AML/CTF Exemption for CBDC Pilot

By Sanday Chongo Kabange | 07/04/2023

The exemption applies to CBDC issuance, redemption, exchange, custody, storage, transfer, account opening and other areas for the RBA, pilot participants and customers.

AML / KYC

UPDATED – HK Police Charge 10 Suspects for Ramp-and-Dump Activities

By Editors | 06/04/2023

Four of the individuals are alleged to have conspired with some of the individuals who were charged last September to use nominee accounts to corner the shares of two target stocks.

Enforcement

UK Steel Traders Jailed for $500m Trade Finance Fraud

By Mark Johnston | 05/04/2023

Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.

AML / KYC

ICAC Concludes First Training Day for Banks on Corruption Risk

By Sanday Chongo Kabange | 05/04/2023

Acting ICAC Commissioner Ricky Yau said the training programme is aimed at enhancing banking sector standards on preventing corruption risk.