AML / KYC

Crypto / Digital Assets

Cayman Islands Launches Crypto Consultation Using GitHub

By Nithya Subramanian | 05/03/2024

Software coding collaboration platform GitHub is being used for the first time to collate public feedback on the draft legislation.

AML / KYC

ASIC Shuts Down 3,500 Investment Scam Websites

By Nithya Subramanian | 05/03/2024

ASIC has broadened its focus to ensure that banks and superannuation trustees protect members from scammers, said Joe Longo.

AML / KYC

EU Parliament Adopts Framework for Digital Identity Wallet

By Editors | 05/03/2024

The EU wallet will be used on a voluntary basis, allowing EU citizens to identify and authenticate themselves online without using commercial providers.

AML / KYC

Wolfsberg Group Publishes Updated Country Risk FAQs

By Manesh Samtani | 04/03/2024

FIs must strike a balance in how they assess country risk and apply their consideration in customer and other risk frameworks.

AML / KYC

Singapore Police Warns Against Fund Recovery Services Scams

By Nithya Subramanian | 04/03/2024

Since January 2024, at least 29 cases have been reported with losses amounting to at least S$1.2mn, the SPF said.

AML / KYC

China: Amended Law Strengthening Bribery Penalties Takes Effect

By Editors | 04/03/2024

The amended law defines seven “severe” offences related to bribery, specifies higher penalties for such offences, and now also covers private enterprises.

AML / KYC

1,200 Victims Freed from ‘Notorious’ Scam Centre in Myanmar

By Editors | 04/03/2024

Most of the rescued victims are Chinese nationals, who are being taken to an airport in Thailand and flown back to China.

Crypto / Digital Assets

Russia Re-rated on Four FATF Recommendations

By Editors | 04/03/2024

Russia was upgraded on R.6, R.7, and R.25, and downgraded on R.15 because digital currency activities are largely unregulated.

AML / KYC

Illicit Crypto Funds Flow Into Sanctioned Entities and Jurisdictions: Report

By Nithya Subramanian | 01/03/2024

Chainalysis said that entities in heavily sanctioned jurisdictions lack access to traditional financial systems and are attempting to use crypto to evade sanctions.