AML / KYC

UK Launches Consultation on Regulatory Framework for Crypto

By Manesh Samtani | 01/02/2023

The framework will require crypto exchanges to define token listing standards, strengthen rules for intermediaries and custodians, and introduce a crypto market abuse regime.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

AML / KYC

FINTRAC Issues Guidance on Detecting Illegal Wildlife Trade

By Editors | 01/02/2023

The guidance provides money laundering indicators based on analysis of approximately 200 STRs related to illegal wildlife trade between 2011 and 2022.

AML / KYC

Westpac Fined in Hong Kong Over Delayed Customer Reviews

By Editors | 31/01/2023

Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.

AML / KYC

UK Economic Crime Bill to Include New ‘Failure to Prevent’ Offences

By Manesh Samtani | 31/01/2023

Failure to prevent fraud, false accounting, and money laundering will become new corporate criminal offences in the UK.

AML / KYC

Korea Justice Ministry to Start Tracking Crypto Transactions

By Editors | 31/01/2023

The “Virtual Currency Tracking System” will be launched as part of a new cloud system that will allow other agencies to leverage prosecutors’ investigative and forensics expertise.

AML / KYC

International Counter Ransomware Task Force Begins Operation

By Editors | 30/01/2023

Australia is the inaugural chair and coordinator of the ICRTF, which will seek to drive international cooperation to tackle ransomware.

AML / KYC

US, EU Authorities Take Down HIVE Ransomware Gang

By Editors | 30/01/2023

“Simply put, using lawful means, we hacked the hackers,” said deputy attorney general Lisa Monaco.

AML / KYC

FinCEN Warns of Sanctions Evasion in Commercial Real Estate

By Editors | 29/01/2023

New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.

Crypto / Digital Assets

FBI Confirms DPRK Hackers Behind $100m Horizon Bridge Crypto Theft

By Editors | 29/01/2023

The FBI was able to freeze a portion of the stolen funds, in coordination with some virtual asset service providers.

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