AML / KYC

AML / KYC

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

AML / KYC

Revised Anti-Money Laundering Law Takes Effect in Taiwan

By Manesh Samtani | 08/08/2024

The amendments introduce criminal penalties for overseas crypto firms that offer services in Taiwan without establishing a local unit and complete an AML registration process.

AML / KYC

We Must Stop the Crime Before It Happens to Stem the Scam Epidemic

By Chris Sheehan | 07/08/2024

Our aim must be to stop the crime before it happens, not to simply find an answer once money has been lost, writes NAB’s Chris Sheehan.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

By Editors | 07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

AML / KYC

HKMA Expands FINEST Platform to Ten Participating Banks

By Editors | 07/08/2024

HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

AML / KYC

Singapore Parliament Passes Bill to Strengthen AML Regime

By Nithya Subramanian | 07/08/2024

The amendment bill will enable STRO to access more intelligence from government agencies and make it easier for prosecutors to pursue cases.

AML / KYC

The Case for Change: Leveraging GenAI in Anti-Financial Crime

By Bradley Maclean | 07/08/2024

GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

AML / KYC

DIA Offers Insight into TF Risks Facing New Zealand

By Ranamita Chakraborty | 07/08/2024

The DIA warns that terrorism financiers could manipulate New Zealand’s financial system and legal structures using methods similar to money launderers.

AML / KYC

Indonesia to ‘Soft Launch’ Anti-Scam Centre This Month

By Manesh Samtani | 07/08/2024

In the initial stage, 15 banks will join the anti-scam centre directly, but in due course all banks in Indonesia will be required to participate.