AML / KYC

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    AML / KYC

    FATF Publishes First Comprehensive Report on Ransomware

    By Manesh Samtani | 16/03/2023

    The report says the payment and subsequent laundering of ransomware proceeds is “almost exclusively conducted through virtual assets”.

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    Crypto / Digital Assets

    Crypto-related Crime in Australia: What Court Records Tell Us, and What Lies Ahead

    By Angela Ang | 16/03/2023

    Angela Ang considers findings from the first empirical study of crypto-related court cases in Australia, and what this means the crypto crime and enforcement landscape.

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    AML / KYC

    HKIMR Report Explores GBA Cross-border Payments Challenges

    By Editors | 16/03/2023

    A survey of FIs found that some GBA transactions are still processed manually. Other challenges relate to differing messaging formats, regulatory requirements and investment quotas.

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    AML / KYC

    UK to Start Collecting New Economic Crime Levy from July

    By Editors | 15/03/2023

    The economic crime levy will apply to financial firms, auditors, tax advisers, crypto firms, and other regulated entities.

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    AML / KYC

    AUSTRAC Launches Specialist AML Unit for Gambling Sector

    By Editors | 13/03/2023

    AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.

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    AML / KYC

    FATF Finalises Revisions to Recommendation 24 Guidance

    By Editors | 13/03/2023

    The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.

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    AML / KYC

    Former Malaysian PM Muhyiddin Charged With Corruption

    By Editors | 13/03/2023

    Former prime minister Muhyiddin Yassin was charged with four counts of abuse of power and three counts of money laundering.

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    AML / KYC

    BOT Announces Additional Measures to Combat Financial Fraud

    By Editors | 10/03/2023

    “Near real-time” monitoring systems must be implemented that can detect and immediately freeze suspicious transactions, among other measures.

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    AML / KYC

    1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

    By Editors | 10/03/2023

    Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

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    AML / KYC

    REPO Task Force Has Immobilised $58b of Russian Assets

    By Editors | 10/03/2023

    The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

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