AML / KYC

AML / KYC

Former CSRC Official Sentenced to Death With Reprieve

By Editors | 05/06/2022

A former CSRC official and Communist Party city chief was found to have taken $41mn in bribes between 2004 and 2020.

Crypto / Digital Assets

Japan Approves Law Clarifying Legal Status of Stablecoins

By Manesh Samtani | 05/06/2022

Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.

AML / KYC

US to Seek New UN Sanctions if DPRK Tests Nuclear Weapon

By Editors | 03/06/2022

The US tried to impose new UN sanctions on North Korea last week but the resolution was vetoed by China and Russia.

AML / KYC

Singapore Banks to Adopt More Scam Prevention Measures

By Darien Choong | 02/06/2022

The measures include an emergency self-service ‘kill switch’, enhancements to fraud surveillance systems, and additional customer confirmations.

AML / KYC

US Issues New Russia Sanctions, EU Approves 6th Package

By Editors | 02/06/2022

The US is targeting more Russian government and business officials and technology. The EU approved an embargo on seaborne oil imports.

AML / KYC

More Chinese Firms Fall Under India Probe for ‘Irregularities’

By Editors | 02/06/2022

The MCA says it has received information that indicates potential violations including fraud by Chinese companies operating in India.

AML / KYC

Malaysia SC Offers Guidance on Detecting Fake Investment Firms

By Editors | 01/06/2022

In one case, approximately $821,000 flowed through one mule bank account controlled by scam operators within a period of six months.

AML / KYC

EU Leaders Agree to Ban 90pc of Russian Oil by Year-end

By Manesh Samtani | 01/06/2022

The EU’s sixth package of sanctions will also include the removal of three more banks from the SWIFT network and asset freezes against more Russian individuals.

AML / KYC

FATF Re-rates New Zealand for Progress on UBO Transparency

By Editors | 31/05/2022

The FATF says New Zealand was re-rated on Recommendation 25 due to new requirements for trusts coming into force.