AML / KYC

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.

AML / KYC

OFAC Fines Crypto Firm Kraken for Iran Sanctions Violations

By Editors | 30/11/2022

Kraken was facing a maximum fine of over $272mn. The $362,000 settlement reflects OFAC’s determination the violations were “non-egregious and voluntarily self-disclosed”.

AML / KYC

Singapore Police Launch Probe into Crypto Lender Hodlnaut

By Editors | 29/11/2022

The police said they received multiple reports between August and November 2022 alleging false representations by that Hodlnaut and/or its directors.

AML / KYC

Turkish Authorities Seize FTX Assets Amid Criminal Probe

By Editors | 29/11/2022

Turkish investigation found that FTX failed to safely store user funds, embezzled customer funds, and manipulated market supply and demand.

Crypto / Digital Assets

VASPs Propose Measures to Improve Regulatory Mechanisms for Crypto

By Editors | 28/11/2022

The proposals include a mechanism to allow VASPs to discover one another, so as to better manage counterparty risk and enhance compliance requirements.

AML / KYC

DOJ Charges Two for Fraud Involving Fake Crypto Mining Operation

By Editors | 28/11/2022

Two Estonians induced victims to enter into “fraudulent equipment rental contracts” and to invest in a fake digital currency bank.

AML / KYC

EU States Start Closing Access to Beneficial Owners Registers

By Manesh Samtani | 28/11/2022

Luxembourg, Netherlands, Belgium, Austria and Malta have closed public access to their beneficial ownership registers following an EU Court of Justice ruling.

AML / KYC

Authorities from Ten Countries Take Down Spoofing Website

By Editors | 28/11/2022

Europol says the website offered services that enabled fraudsters to impersonate companies including banks to access sensitive information from victims.

AML / KYC

Bangladesh Bank Call on Banks to Address Trade Mis-Invoicing

By Editors | 25/11/2022

Bangladesh Bank calls on banks and NBFIs to help stop over- and under-invoicing as they are causing the government to lose revenue and foreign currency.