AML / KYC

AML / KYC

AUSTRAC Consults on Drafts Guidance to Address Debanking

By Sanday Chongo Kabange | 05/12/2022

FIs should consider a remitter’s, DCE’s or fintech’s registration with AUSTRAC as a mitigating factor when assessing its ML/TF risks.

AML / KYC

Swimming in Dirty Money: It’s Time to Dive Below the Surface

By Tom Keatinge | 05/12/2022

The failure to address the illicit finance in illegal, unreported and unregulated fishing is a glaring omission, says RUSI’s Tom Keatinge.

AML / KYC

US Court Dismisses Remaining Charges Against Huawei CFO

By Editors | 05/12/2022

The charges against Meng Wanzhou were dismissed as part of her September 2021 deferred prosecution agreement.

AML / KYC

G7 Powers Set to Implement Oil Price Cap on Russian Crude

By Editors | 04/12/2022

EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.

AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

By Editors | 04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

AML / KYC

Police Ad Test Highlights Hong Kong Scam Threat – Report

By Editors | 04/12/2022

A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.

AML / KYC

US Banks Preparing to Accept More Liability for Zelle Frauds

By Editors | 04/12/2022

Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

AML / KYC

FATF Calls on AML Practitioners to Target Opioids Trafficking

By Manesh Samtani | 02/12/2022

New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.