AML / KYC

AML / KYC

AUSTRAC Orders AML Audits at Two Corporate Bookmakers

By Editors | 04/11/2022

Sportsbet and Bet365 are among the largest corporate bookmakers in Australia. AUSTRAC chief Nicole Rose said the whole industry is on notice.

AML / KYC

Crypto Being Used to Finance More Terrorist Activities: UN Official

By Editors | 03/11/2022

Up to 20 percent of terrorist attacks are seen as crypto-financed or linked to digital assets, compared to just 5 percent a couple of years ago.

AML / KYC

FATF Consults on New Draft Guidance on Beneficial Ownership

By Editors | 03/11/2022

The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.

AML / KYC

Malaysian Banks Launch National Scam Awareness Campaign

By Editors | 02/11/2022

BNM said banks are giving their “full commitment” and making progress in implementing stronger controls and safeguards against financial scams.

AML / KYC

NZ DIA Updates CCD Guidance to Address Nominee Structures

By Sanday Chongo Kabange | 01/11/2022

Reporting entities “must” take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.

AML / KYC

Hong Kong CR to Shield Some Director Info from Public View

By Editors | 30/10/2022

Residential addresses and full ID numbers will be replaced with correspondence addresses and partial ID numbers. FIs can still apply for access to the full data.

AML / KYC

Australia: Budget Measures Provide Boost to Scam Prevention

By Editors | 30/10/2022

The budget also includes funding for APRA and ASIC to increase their staff numbers, an independent review of the carbon market, and the introduction of climate reporting standards.

AML / KYC

Top Prosecutor Arrests Former China Merchants Bank President

By Editors | 29/10/2022

The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.

AML / KYC

Wolfsberg Group Updates Guidance on Correspondent Banking

By Editors | 28/10/2022

The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.