AML / KYC

AML / KYC

US Fed Probing Morgan Stanley AML Controls – Report

By Editors | 12/11/2023

The Fed is reported to be assessing whether Morgan Stanley has sufficient controls in place to prevent wealthy foreign customers from laundering money.

AML / KYC

FATF Re-Rates Thailand on Two Recommendations

By Editors | 10/11/2023

Re-ratings were due to legal requirements for FIs and DNFBPs to conduct risk-based CDD and AMLO guidance on risk-based supervision.

Crypto / Digital Assets

Taiwan Authorities Arrest Two Individuals Linked to JPEX

By Editors | 10/11/2023

Investors in Taiwan have initiated legal action against the allegedly fraudulent crypto exchange, which first came under regulatory scrutiny in Hong Kong.

AML / KYC

FATF Calls for Action to Combat Cyber-Enabled Fraud

By Manesh Samtani | 10/11/2023

Cyber-enabled fraud and related money laundering are facilitated by professional enablers, money mules, shell companies, and different types of FIs including VASPs.

Enforcement

US Prosecutors Secure Guilty Plea from OneCoin Executive

By Mark Johnston | 10/11/2023

Irina Dilkinska was in charge of compliance at OneCoin, a global crypto scam that lured investors with false promises of high returns.

AML / KYC

UK FCA Urges Firms to Do More to Combat APP Fraud

By Manesh Samtani | 08/11/2023

Firms are not adequately focused on delivering good outcomes to consumers,  supporting victims of fraud, and handling complaints in a timely manner.

AML / KYC

ASIC Launches New and Improved Investor Alert List

By Editors | 08/11/2023

The list includes entities that are offering services to Australians without authorisation, as well as “impostor” entities and websites.

AML / KYC

FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting

By Editors | 08/11/2023

Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.

AML / KYC

Malaysia Close to Settling Outstanding 1MDB Debts – Report

By Editors | 08/11/2023

Funds Malaysia will receive next year as part of a settlement with an Abu Dhabi state fund will give it enough to pay off 1MDB’s remaining debts.