AML / KYC

AML / KYC

Thailand Creates Working Group to Tackle Social Media Scams

By Editors | 16/10/2022

Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.

AML / KYC

Singapore: SMS Sender ID Registration to Become Mandatory

By Editors | 15/10/2022

All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.

AML / KYC

Glencore Facing Investor Lawsuits Following Bribery Conviction

By Editors | 14/10/2022

Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.

AML / KYC

Switzerland to Commence Work on Creating UBO Register

By Editors | 14/10/2022

A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.

AML / KYC

US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions

By Editors | 14/10/2022

Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.

Enforcement

China to Prosecute Former China Merchants Bank President

By Editors | 12/10/2022

The former president was abruptly removed from his post in April, after spending nearly nine years building CMB into China’s top retail bank.

AML / KYC

US Treasury Penalises Crypto Exchange Bittrex $29mn

By Editors | 12/10/2022

OFAC and FinCEN took joint action for sanctions screening failures and violations of AML and SAR reporting requirements.

AML / KYC

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

By Sanday Chongo Kabange | 11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

AML / KYC

US Targets Fuel Procurement Network in Latest DPRK Sanctions

By Editors | 11/10/2022

The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.