AML / KYC

    AML / KYC

    UK Issues Guidance on Preventing Sanctions Evasion

    By Editors | 14/07/2022

    London-based enablers are “almost certain” to be in senior positions within their company or business, says a red alert from the NCA and OFSI.

    AML / KYC

    Australian Banks Introduce Dynamic CVV to Reduce Card Fraud

    By Editors | 14/07/2022

    Westpac customers who use dynamic CVV have seen an 80 percent reduction in fraud compared to those who don’t.

    AML / KYC

    China Arrests Gang Responsible for Henan Bank Fraud

    By Darien Choong | 14/07/2022

    The four Henan rural banks which froze withdrawals will start repaying some customers. The CBIRC pledged to formulate a disposal plan soon.

    AML / KYC

    HKMA Advances Work on AML SupTech, Bank-to-Bank Data Sharing

    By Darien Choong | 13/07/2022

    HKMA executive director Carmen Chu discussed initiatives to enable bank-to-bank information sharing and use granular bank data to detect ML risk.

    AML / KYC

    GCFFC Offers Recommendations on Improving AML Effectiveness

    By Manesh Samtani | 12/07/2022

    PPPs could benefit from the FATF providing a clearer endorsement of their benefits within the global framework, the paper says.

    AML / KYC

    Why India Does Not Use Sanctions

    By Mathew Chemplayil | 12/07/2022

    India’s attitudes against isolating Russia arise from its strategic interests with Moscow and a long history as a recipient of sanctions, says Mathew Chemplayil.

    AML / KYC

    India Enables Rupee Settlement Mechanism for International Trades

    By Editors | 12/07/2022

    The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.

    AML / KYC

    Hong Kong Publishes ML/TF Risk Assessment Report

    By Manesh Samtani | 12/07/2022

    The most prominent ML threats to banks come from fraud, corruption and tax crimes. The main ML threats to the crypto sector relate to fraud and theft.

    Crypto / Digital Assets

    US Treasury Outlines Approach to International Engagement on Crypto

    By Editors | 11/07/2022

    The US will promote the adoption and implementation of international standards while ensuring a “coordinated message” and limiting duplication of work.

    AML / KYC

    RBNZ Issues Formal Warning to BNZ Over AML Rule Breaches

    By Editors | 11/07/2022

    A coding error caused NAB-owned Bank of New Zealand to report incorrect locations to the FIU for around 50,000 domestic physical cash transactions.

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