AML / KYC

AML / KYC

Crypto Firms and Sanctions: Five Tools for Compliance

By Manesh Samtani | 12/04/2022

Sanctions screening starts with effective KYC, says Refinitiv’s Neil Vaz, pointing to five “universal tools” crypto firms need to ensure compliance.

AML / KYC

Philippine NPO Sector Rated as Medium Risk for Terrorist Financing

By Sanday Chongo Kabange | 12/04/2022

The SEC warns that suspected or actual misuse of the NPO sector for terrorism financing can present serious ramifications for an NPO’s intended beneficiaries.

AML / KYC

AUSTRAC Issues Guidance on Engaging AML/CTF Advisers

By Editors | 11/04/2022

Without endorsing any AML/CTF adviser, AUSTRAC says it recognises the benefits and efficiencies that can be gained by firms from engaging third party consultants.

AML / KYC

New York Court Convicts Ex-Goldman Exec in 1MDB Case

By Editors | 11/04/2022

Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.

AML / KYC

FSC Australia Issues Guidance on Russian Asset Divestment

By Editors | 08/04/2022

The guidance is for superannuation trustees, asset managers investing superannuation capital, and asset managers operating managed schemes with super funds as investors.

Enforcement

Singapore Court Upholds Convictions of Russian, Singapore Nationals

By Editors | 08/04/2022

The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.

AML / KYC

EU Approves Russian Coal Ban, Australia Adds Sanctions

By Manesh Samtani | 08/04/2022

The EU approved bans on Russian coal imports, high-tech exports, port access, and more banks. Australia has sanctioned 67 more individuals.

AML / KYC

US, German Authorities Target World’s Largest Darknet Market

By Manesh Samtani | 07/04/2022

OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

By Editors | 07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.