AML / KYC

AML / KYC

MAS Issues Guidance on Russia Sanctions Compliance

By Manesh Samtani | 17/03/2022

Crypto exchange operators have all been instructed to provide details of their Russia-linked clients to the regulator.

AML / KYC

Japan Crypto Exchanges Ordered to Comply with Sanctions

By Editors | 17/03/2022

Fines up to JPY 1 million and up to three years’ imprisonment are specified for non-compliance with sanctions by crypto exchange platforms.

AML / KYC

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

By Editors | 17/03/2022

Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.

AML / KYC

NZ FIU Calls for Help to Combat Transnational Organised Crime

By Sanday Chongo Kabange | 16/03/2022

Reporting entities are “uniquely positioned” to detect TNOC activity through the implementation of preventive measures and reporting to the FIU.

AML / KYC

AUSTRAC Proposes Amendments to AML/CTF Rules

By Sanday Chongo Kabange | 16/03/2022

A new consultation paper proposes to exempt FIs that are already enrolled with AUSTRAC from registration on the DCE Register when offering digital currency exchange services.

AML / KYC

Tencent Faces Record Penalty Over AML Breaches – Report

By Sanday Chongo Kabange | 16/03/2022

The breaches involved failures to verify the identities of users and merchants transacting on WeChat Pay, as well as the source of funds for those transactions.

Fintech / Regtech

Dubai Establishes New Law, Regulator for Crypto Assets

By Mark Johnston | 16/03/2022

The new law comes as crypto firms in the UAE receive streams of requests from sanctioned Russians to liquidate billions of dollars of crypto assets.

AML / KYC

INTERPOL Launches Financial Crime and Anti-Corruption Centre

By Editors | 16/03/2022

The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.

AML / KYC

G7 to Downgrade Russia Trade Status, Close Sanctions Loopholes

By Editors | 13/03/2022

US bans more Russian trade. G7 pledges to close national-level loopholes that could enable sanctions evasion via crypto-assets, among other commitments.