AML / KYC

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Crypto / Digital Assets

US Lawmakers Introduce AML/CFT Bill for Crypto Firms

By Mark Johnston | 19/12/2022

The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.

AML / KYC

AUSTRAC Issues Guidance on Detecting OSEC Crime

By Editors | 19/12/2022

AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.

AML / KYC

Weak Environmental Crimes Law a Risk to Investors

By ESG Investor | 19/12/2022

European Council’s position on the revised Environmental Crime Directive will damage portfolios as well as the environment, says WWF.

AML / KYC

FinCEN Proposes Rules on Access to Beneficial Ownership Information

By Editors | 18/12/2022

The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.

AML / KYC

NZ FMA Issues AML Warning Against Private Equity Firm

By Editors | 18/12/2022

The FMA said Pencarrow Private Equity failed to retain and make readily accessible identity and verification records for customers.

Enforcement

US SEC, DOJ Charge Social Media Influencers for Securities Fraud

By Mark Johnston | 18/12/2022

Eight individuals are accused of engaging in a conspiracy to commit securities fraud through a social media-based “pump and dump” scheme.

AML / KYC

HKMA Asks StanChart to Investigate Unauthorised Card Transactions

By Editors | 18/12/2022

Standard Chartered has said there is no evidence of a data leak, that it would arrange refunds, and that it has strengthened its monitoring systems in response.

AML / KYC

Singapore Releases Blueprint to Combat Ransomware Attacks

By Mark Johnston | 17/12/2022

The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.