AML / KYC

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    AML / KYC

    Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

    By Editors | 26/04/2023

    The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

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    AML / KYC

    HKMA Sets Loss-Sharing Expectations for Payment Card Fraud

    By Manesh Samtani | 26/04/2023

    To the extent that the cardholders have not acted fraudulently or with gross negligence, they “should not be held liable for the unauthorised transactions”.

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    AML / KYC

    US Treasury Sets Out Strategy to Address De-risking

    By Editors | 26/04/2023

    Regulations could be introduced to require FIs to take financial inclusion into consideration in the design of their AML/CFT programmes.

    AML / KYC

    Crypto Industry Needs ‘Unified Approach’ to Travel Rule Compliance

    By Manesh Samtani | 25/04/2023

    A new report from Notabene offers insight into how prepared crypto firms are for upcoming regulatory deadlines relating to the Travel Rule.

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    AML / KYC

    US Official Details Sanctions Evasion Red Flags During European Visit

    By Editors | 25/04/2023

    Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

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    AML / KYC

    OFAC Sanctions Three for Facilitating Lazarus Group Activities

    By Editors | 25/04/2023

    China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

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    AML / KYC

    Australia to Establish SMS Sender ID Registry

    By Editors | 24/04/2023

    The move will add a “new layer of protection” for Australian consumers against scammers using these known brands to target and deceive.

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    AML / KYC

    Malaysia in Talks with China to Secure Jho Low Repatriation

    By Editors | 24/04/2023

    An arrangement is being “hotly debated” inside the Malaysian government after PM Anwar Ibrahim’s first official trip to China last month.

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    Enforcement

    19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

    By Editors | 24/04/2023

    The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

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    AML / KYC

    ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

    By Editors | 23/04/2023

    The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

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