AML / KYC

AML / KYC

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

AML / KYC

EU Lawmakers Agree New AML/CFT Rules

By Editors | 29/03/2023

Members of the European Parliament approved draft AML/CFT legislation, including plans for the new Anti-Money Laundering Authority.

AML / KYC

CFTC Alleges Binance is Operating in the US Illegally

By Editors | 28/03/2023

The CFTC says Binance’s US activities were subject to registration and regulatory requirements but that key executives deliberately disregarded these requirements.

AML / KYC

Hong Kong ICAC Issues Corruption Prevention Guide for Banks

By Sanday Chongo Kabange | 27/03/2023

The HKMA said banks operating in Hong Kong must use and make reference to the new corruption prevention guide.

AML / KYC

AUSTRAC Issues Guidance on Employee Due Diligence

By Editors | 27/03/2023

Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.

AML / KYC

Credit Suisse, UBS Under US Sanctions Probe – Report

By Editors | 24/03/2023

Credit Suisse and UBS were included in a wave of subpoenas sent out by the DOJ before their merger agreement was announced.

AML / KYC

South Korea Issues Another Set of DPRK Sanctions

By Manesh Samtani | 22/03/2023

The sanctions were imposed in the absence of a working multilateral mechanism to respond to its North Korea’s latest ICBM launch.

Enforcement

Australia Jails Lawyer for 12 Years in Tax Fraud Case

By Editors | 22/03/2023

The lawyer allowed proceeds of crime to be received and transferred out of his legal practice’s trust account.

AML / KYC

Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership

By Editors | 22/03/2023

The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.