AML / KYC

Singapore: New Bill Introduced to Facilitate Introduction of COSMIC

By Manesh Samtani | 21/03/2023

The Bill provides FIs statutory protection from civil liability in respect of their disclosure of risk information on to COSMIC for the purposes of mitigating ML, TF and PF risks.

AML / KYC

Star Entertainment Admits to Breaking QLD Casino Laws

By Editors | 20/03/2023

Star pleaded guilty to seven charges of allowing customers to buy chips with credit cards at its Queensland casinos.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

By Editors | 20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

AML / KYC

New Cybercrime Prevention Law Takes Effect in Thailand

By Editors | 19/03/2023

The law allows banks to temporarily suspend illicit bank accounts without having to wait for a fraud to occur.

AML / KYC

Jarek Jakubcek Discusses How Binance Works With Law Enforcement

By Editors | 19/03/2023

Jarek Jakubcek, Head of Law Enforcement Training at Binance, discusses working with law enforcement and how the technology used in investigations has evolved over time.

Enforcement

AFP Seizes Over A$250m from Money Launderers

By Editors | 18/03/2023

A new taskforce has seized over AUD 250 million in cash and assets from money launderers since December 2022.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from PayPal

By Editors | 17/03/2023

AUSTRAC says PayPal has cooperated with an enforcement investigation that commenced in December 2020, related to IFTI reporting.

AML / KYC

China Fines Bohai Bank for Third Time This Year

By Editors | 16/03/2023

The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.

AML / KYC

US, German Authorities Coordinate on Takedown of Crypto Mixer

By Editors | 16/03/2023

Authorities dismantled ChipMixer’s infrastructure and seized four servers, about USD 46 million worth of bitcoin, 7 TB of data, two domains, and a Github account.

AML / KYC

FATF Publishes First Comprehensive Report on Ransomware

By Manesh Samtani | 16/03/2023

The report says the payment and subsequent laundering of ransomware proceeds is “almost exclusively conducted through virtual assets”.

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