AML / KYC

China CCDI Analyses Corruption Cases at China Development Bank

By Editors | 22/06/2023

CCDI attributed CDB’s corruption problem to a lack of self-discipline among its leaders, inadequate internal governance and control, and a “backward” corporate culture.

Enforcement

MAS Fines Three Banks and an Insurer for AML Breaches

By Karen Ng | 22/06/2023

The institutions had “inadequate AML/CFT controls in place” when they dealt with persons who were involved in Wirecard-related transactions.

Enforcement

US DOJ Charges Russian Hacker for LockBit Ransomware Attacks

By Mark Johnston | 22/06/2023

Ruslan Astamirov is the third person to be charged over the LockBit ransomware variant. A global cybersecurity advisory has also been issued.

Crypto / Digital Assets

Cuscal Introduces New Requirements for Crypto Firms in Australia

By Ranamita Chakraborty | 22/06/2023

Digital currency exchanges have to meet additional requirements to continue using services on Cuscal’s platform.

Enforcement

Ex-PBOC Deputy Governor Arrested on Bribery Suspicions

By Editors | 22/06/2023

Fan Yifei has been arrested and is now the subject of a criminal investigation for alleged bribery and abuse of power offences.

AML / KYC

Indonesia OJK Issues New AML/CFT/CPF Regulations

By Sanday Chongo Kabange | 22/06/2023

OJK’s Mahendra Siregar said the new regulations are aligned with the FATF standards, and will help Indonesia become a FATF member.

AML / KYC

AMLC Sheds Light on Terrorism Financing Threats Facing Philippines

By Editors | 21/06/2023

New risk assessment highlights the use of social media platforms and cryptocurrencies by terrorist groups to raise funds.

AML / KYC

Taiwan Launches Action Plan to Boost Anti-Fraud Effort

By Editors | 21/06/2023

The action plan includes measures to identify, block, prevent and punish fraud, and improve seizure and recovery practices.

AML / KYC

EBA Calls Out Ineffective AML Risk Management in Payments Sector

By Sanday Chongo Kabange | 21/06/2023

The EBA says money laundering and terrorist financing risks are “not managed effectively” at EU payment institutions.

AML / KYC

Hong Kong Launches AML Information Sharing Platform for Banks

By Manesh Samtani | 21/06/2023

The five banks participating in the pilot phase are BOCHK, Standard Chartered, HSBC, Hang Seng Bank, and ICBC Asia.

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