AML / KYC

AML / KYC

SEBI Issues Rules on Trading Account Deactivation for Inadequate KYC

By Editors | 09/08/2022

Trading or demat accounts will be automatically deactivated if a show-cause notice or order issued by SEBI is undeliverable at the addresses mentioned in KYC records.

AML / KYC

FSB Gives Full Support to Wide LEI Use in Global Payments

By Clare Rowley | 09/08/2022

The FSB’s recommendation that the LEI should be used more widely in payments will catalyze increased global LEI adoption, says GLEIF’s Clare Rowley.

AML / KYC

US Secures Extradition of Former Crypto Exchange Operator

By Editors | 09/08/2022

Alexander Vinnik is alleged to have laundered more than $4bn through a crypto exchange he operated known as BTC-e until it was shut down in 2017.

AML / KYC

China Sanctions Pelosi, Halts US Cooperation on Crime, Climate

By Editors | 08/08/2022

China sanctioned US House Speaker Nancy Pelosi and her immediate family over her visit to Taiwan, and will suspend cooperation with the US in a number of areas.

Enforcement

OFAC Investigating Kraken for Alleged Sanctions Violations

By Editors | 07/08/2022

Kraken is suspected of allowing Iranian users to utilise Kraken’s services, in violation of federal sanctions.

AML / KYC

Switzerland Aligns with EU in Latest Russia Sanctions

By Editors | 05/08/2022

The Swiss government is imposing a ban on buying, importing or transporting gold and gold products from Russia. Sberbank is also banned.

AML / KYC

ACCC Raises Alarm Over Rising Fake Bond Scams

By Editors | 05/08/2022

Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.

Enforcement

More Senior Officials Fall Under Corruption Probes in China

By Darien Choong | 04/08/2022

Officials from the MIIT, CBIRC and PBOC have been named in a fresh round of corruption investigations.

AML / KYC

ECB Analyses Options for Enhancing Cross-Border Payments

By Manesh Samtani | 04/08/2022

Bitcoin and stablecoins are “unlikely” to be the “holy grail” of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.