AML / KYC

AML / KYC

OFAC Sanctions Three for Facilitating Lazarus Group Activities

By Editors | 25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

AML / KYC

Australia to Establish SMS Sender ID Registry

By Editors | 24/04/2023

The move will add a “new layer of protection” for Australian consumers against scammers using these known brands to target and deceive.

AML / KYC

Malaysia in Talks with China to Secure Jho Low Repatriation

By Editors | 24/04/2023

An arrangement is being “hotly debated” inside the Malaysian government after PM Anwar Ibrahim’s first official trip to China last month.

Enforcement

19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

By Editors | 24/04/2023

The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

AML / KYC

ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

By Editors | 23/04/2023

The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

AML / KYC

Taiwan Targets Misleading Online Financial Advertisements

By Sanday Chongo Kabange | 23/04/2023

Meta is said to be addressing scams “more efficiently” than Google, after Taiwan regulators asked both to remove misleading financial ads from their platforms.

AML / KYC

European Parliament Gives Final Approval on MiCA Law

By Manesh Samtani | 21/04/2023

MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.

AML / KYC

Australia Opens Consultation on ‘Tranche 2’ AML Reforms

By Sanday Chongo Kabange | 21/04/2023

The proposed reforms will extend the AML/CTF regime to lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.

AML / KYC

BNM, FICG to Co-host AML/CFT Hackathon in June

By Editors | 21/04/2023

The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.