AML / KYC

AML / KYC

Credit Suisse, UBS Under US Sanctions Probe – Report

By Editors | 24/03/2023

Credit Suisse and UBS were included in a wave of subpoenas sent out by the DOJ before their merger agreement was announced.

AML / KYC

South Korea Issues Another Set of DPRK Sanctions

By Manesh Samtani | 22/03/2023

The sanctions were imposed in the absence of a working multilateral mechanism to respond to its North Korea’s latest ICBM launch.

Enforcement

Australia Jails Lawyer for 12 Years in Tax Fraud Case

By Editors | 22/03/2023

The lawyer allowed proceeds of crime to be received and transferred out of his legal practice’s trust account.

AML / KYC

Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership

By Editors | 22/03/2023

The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.

AML / KYC

Upbit’s Azman Hamid Discusses Travel Rule Adoption in APAC

By Editors | 21/03/2023

Upbit’s Azman Hamid discusses the UAE’s addition to the FATF grey list and APAC’s implementation of the FATF recommendations on virtual assets.

AML / KYC

Singapore: New Bill Introduced to Facilitate Introduction of COSMIC

By Manesh Samtani | 21/03/2023

The Bill provides FIs statutory protection from civil liability in respect of their disclosure of risk information on to COSMIC for the purposes of mitigating ML, TF and PF risks.

AML / KYC

Star Entertainment Admits to Breaking QLD Casino Laws

By Editors | 20/03/2023

Star pleaded guilty to seven charges of allowing customers to buy chips with credit cards at its Queensland casinos.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

By Editors | 20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

AML / KYC

New Cybercrime Prevention Law Takes Effect in Thailand

By Editors | 19/03/2023

The law allows banks to temporarily suspend illicit bank accounts without having to wait for a fraud to occur.