AML / KYC

    AML / KYC

    US Banks Preparing to Accept More Liability for Zelle Frauds

    By Editors | 04/12/2022

    Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

    AML / KYC

    FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

    By Editors | 03/12/2022

    Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

    AML / KYC

    FATF Calls on AML Practitioners to Target Opioids Trafficking

    By Manesh Samtani | 02/12/2022

    New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.

    AML / KYC

    Texas Unseals Charges Against 21 Crypto Money Launderers

    By Editors | 02/12/2022

    The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.

    Enforcement

    Korean Prosecutors Seek More Terra-related Arrest Warrants

    By Editors | 01/12/2022

    New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.

    AML / KYC

    AUSTRAC Commences Court Proceedings Against Star Casinos

    By Manesh Samtani | 01/12/2022

    Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.

    AML / KYC

    GLEIF Enables LEI Mapping for S&P Global Company IDs

    By Editors | 30/11/2022

    GLEIF already provides ISIN-LEI, BIC-LEI and MIC-LEI mapping certification, and has been encouraging data vendors to map their identifiers to the LEI.

    AML / KYC

    FATF Re-rates China on Two More Recommendations

    By Editors | 30/11/2022

    China was re-rated for progress made in the implementation of PF-related targeted financial sanctions and on beneficial ownership transparency.

    AML / KYC

    UK Crypto Fraud Increased 32pc Over One Year Period

    By Editors | 30/11/2022

    UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

    AML / KYC

    EU to Gain Legal Authority to Punish Sanctions Circumvention

    By Editors | 30/11/2022

    The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

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