AML / KYC

AML / KYC

Euroclear Faces $2b Lawsuit from Russian Fund Manager

By Editors | 14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

AML / KYC

BOT Offers Update on Implementation of Anti-Fraud Measures

By Mark Johnston | 14/07/2023

Banks have stopped sending links via SMS, email, and social media. Mobile banking users are also restricted to using just one device.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

By Editors | 14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

AML / KYC

Australian Banks Push Back on Mandatory Scam Reimbursements

By Editors | 13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

AML / KYC

UAE Becomes First Arab Country to Join APG as Observer

By Mark Johnston | 13/07/2023

A delegation from the UAE participated as an observer in the APG forum in Vancouver earlier this month. Other observers include the UK, France, and Germany.

AML / KYC

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

By Editors | 13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.

Crypto / Digital Assets

Woori Bank Caught Up in Crypto-related Embezzlement Scandal

By Sanday Chongo Kabange | 13/07/2023

On of Woori Bank’s employees embezzled about KRW 90 million and used it for personal investments in crypto.

Fintech / Regtech

Thailand Sets Up Central Fraud Registry

By Karen Ng | 12/07/2023

AI technology will be used, via the new registry, to help banks prevent suspicious accounts from completing fraudulent transactions.

AML / KYC

EU Central Banks Making Progress in Money Laundering Fight

By Ranamita Chakraborty | 12/07/2023

The European Banking Authority (EBA) called upon EU central banks and financial regulators to do more to tackle money laundering/terrorist financing risk despite having made tangible progress through prudential supervision.