AML / KYC

AML / KYC

Thailand Telecoms Must Comply with Scam Prevention Rule

By Editors | 13/09/2022

Telecom operators may not allow customers to register more than 5 SIM cards without ID. Daily penalties will start applying for non-compliance.

AML / KYC

Five Korean Crypto Exchanges Face AML Penalties

By Editors | 12/09/2022

Most of the funds involved in Woori and Shinhan’s suspicious wire transfers came from five crypto exchanges and were not reported.

AML / KYC

US Treasury Issues Guidance on Russian Oil Price Cap

By Manesh Samtani | 12/09/2022

The price cap on Russian crude starts in December. India and China import over half of Russia’s seaborne oil. Nord Stream 1 is closed.

AML / KYC

BSP Issues New Guidance on TFS Implementation

By Sanday Chongo Kabange | 09/09/2022

The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.

AML / KYC

UK OFSI Updates Sanctions Guidance to Include Crypto

By Editors | 07/09/2022

Crypto firms are directed to freeze assets of targets listed under the Consolidated List and report suspected sanctions breaches to the OFSI.

AML / KYC

China Passes Law to Combat Telecom and Online Fraud

By Darien Choong | 07/09/2022

The law imposes an obligation on telecom companies and banks to help hunt down fraudsters, and requires the establishment of a risk information sharing mechanism.

AML / KYC

Singapore Police Opens New Anti-Scam Command Office

By Editors | 07/09/2022

The opening of the ASCom office was officiated by Minister for Communications & Information Josephine Teo.

AML / KYC

Japan Regulator Orders Revolut to Improve AML Controls

By Editors | 06/09/2022

Revolut is required to submit a business improvement plan by 3 October and file quarterly progress reports until implementation is complete.

Fintech / Regtech

India Raids Payment Firms in Digital Lending App Probe

By Editors | 06/09/2022

The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.