AML / KYC

AML / KYC

BOT Announces Additional Measures to Combat Financial Fraud

By Editors | 10/03/2023

“Near real-time” monitoring systems must be implemented that can detect and immediately freeze suspicious transactions, among other measures.

AML / KYC

1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

By Editors | 10/03/2023

Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

AML / KYC

REPO Task Force Has Immobilised $58b of Russian Assets

By Editors | 10/03/2023

The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

AML / KYC

Indian Crypto Businesses Now Subject to AML Laws

By Editors | 10/03/2023

Indian crypto firms are now formally required to perform KYC due diligence, verify client identities, monitor transactions, and report suspicious activities.

Securities / Derivatives

SFC Fines City International Futures for AML Compliance Failures

By Editors | 10/03/2023

City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

AML / KYC

Korea Customs: Crypto Involved in 70pc of Illicit Fund Flows in 2022

By Editors | 09/03/2023

The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.

AML / KYC

RBI Fines Amazon Pay’s India Unit for Breaching Local Norms

By Editors | 09/03/2023

Local reports say Amazon Pay as well as other fintech players are being penalised for delays in migrating to video-based KYC.

AML / KYC

HK Losses from Crypto Scams Exceeded $200m in 2022

By Editors | 08/03/2023

Financial losses from crypto-related scams accounted for more than half of the total value lost through technology crime last year, police say.

AML / KYC

US SEC Fines Rio Tinto Over Bribery Scheme Involving Guinea Mining Rights

By Manesh Samtani | 08/03/2023

Rio Tinto paid a former classmate of a Guinean government official for helping it secure mining rights. The consultant later attempted to pay $822,000 to the official.