AML / KYC

AML / KYC

OFAC Sanctions Iranian Actors Over Ransomware Activity

By Editors | 15/09/2022

OFAC said the IRGC-affiliated group has launched extensive campaigns across the globe targeting defence, diplomatic, government and private industry personnel.

AML / KYC

MAS Identifies AML/CFT Control Lapses at VCCs

By Manesh Samtani | 14/09/2022

MAS found issues with EFI appointment, oversight and escalation. Customer risk assessments and ongoing monitoring need improvement.

AML / KYC

UN Official Calls for Removal of All Iran Sanctions

By Manesh Samtani | 14/09/2022

Alena Douhan calls on the US and its allies to lift all sanctions and other restrictions against Iran, and invites the UN to propose mechanisms of compensation, remedy and redress.

Securities / Derivatives

Singapore Introduces Bill to Enhance Business Trust Governance

By Editors | 13/09/2022

CEOs will have to disclose interests in transactions. Unlisted business trusts will have to obtain and maintain information on beneficial ownership of their units.

AML / KYC

FATF, INTERPOL to Ramp Up Global Asset Recovery Efforts

By Editors | 13/09/2022

The FATF and INTERPOL will work to improve international efforts to freeze, seize and confiscate criminal assets including by enhancing cooperation frameworks and available tools.

AML / KYC

FSDC Calls for Review of Hong Kong ‘Suitability’ Framework

By Manesh Samtani | 13/09/2022

The FSDC says Hong Kong’s suitability framework has grown too “complex” and the suitability obligations are “overly prescriptive”.

AML / KYC

AUSTRAC Launches AML Probe into Entain Group

By Editors | 13/09/2022

London-listed betting company Entain Group was also fined last month by the UK Gambling Commission for AML and social responsibility failures.

AML / KYC

Thailand Telecoms Must Comply with Scam Prevention Rule

By Editors | 13/09/2022

Telecom operators may not allow customers to register more than 5 SIM cards without ID. Daily penalties will start applying for non-compliance.

AML / KYC

Five Korean Crypto Exchanges Face AML Penalties

By Editors | 12/09/2022

Most of the funds involved in Woori and Shinhan’s suspicious wire transfers came from five crypto exchanges and were not reported.