AML / KYC

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    Enforcement

    MAS Imposes Lifetime Ban on Former Goldman Exec Roger Ng

    By Editors | 05/09/2023

    Roger Ng is banned from regulated activities in Singapore for life, due to his role in the theft of billions of dollars from 1MDB.

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    AML / KYC

    India Ministry Gazettes Enhancements to AML/CFT Rules

    By Editors | 05/09/2023

    The amendments lower the shareholding threshold for company partners to be considered beneficial owners, from 15 percent to 10 percent

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    AML / KYC

    Crypto Travel Rule Comes into Force in the UK

    By Editors | 04/09/2023

    The UK is now one of several jurisdictions to have now implemented the travel rule for the crypto sector.

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    AML / KYC

    Cayman Islands Proposes Beneficial Ownership Transparency Bill

    By Manesh Samtani | 04/09/2023

    Public access to the beneficial ownership register will be enabled, but only after there is clarity on the effect of the CJEU’s November 2022 ruling.

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    AML / KYC

    KoFIU Fines, Suspends Crypto Lender for AML Violations

    By Editors | 04/09/2023

    Crypto lender Delio failed to assess money laundering risks, had KYC lapses, and failed to restrict transactions with unregistered VASPs.

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    AML / KYC

    Malaysia: BNM Announces Penalties Against Ten Entities

    By Editors | 04/09/2023

    Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.

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    AML / KYC

    Sri Lanka FIU Issues AML Guidelines for Legal Professionals

    By Duruthu E Chandrasekera | 02/09/2023

    Every legal professional is required to appoint a Compliance Officer to ensure compliance, and submit STRs to the FIU.

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    AML / KYC

    MAS Offers New Guidance on BO Identification, Complex Structures

    By Manesh Samtani | 01/09/2023

    MAS inspections found “executional lapses” in this area as a result of “weak oversight” and “lack of risk awareness and vigilance”.

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    AML / KYC

    MAS Issues Additional Guidance on Managing Sanctions Risk

    By Manesh Samtani | 31/08/2023

    The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.

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    AML / KYC

    Understanding the Value of Global Identifiers in the Fight Against Financial Crime

    By Clare Rowley | 31/08/2023

    Clare Rowley explores how the LEI is uniquely positioned to strengthen the fight against international financial crime.

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