AML / KYC

AML / KYC

Wolfsberg Group Updates Payment Transparency Standards

By Editors | 25/10/2023

The updated Standards support the use of the LEI in global payments, which GLEIF welcomed as a “strong endorsement”.

AML / KYC

FATF Removes Switzerland from Enhanced Follow-Up

By Manesh Samtani | 24/10/2023

The FATF upgraded Switzerland’s ratings on two recommendations in response to law reforms that took effect at the beginning of 2023.

Crypto / Digital Assets

SG Court Allows Attaching of Tokenised Freeze Order to Crypto Wallets

By Editors | 24/10/2023

A court-issued freeze order was tokenised as NFTs and attached to wallets linked to a crypto hack.

AML / KYC

FATF Upgrades Japan Ratings on Five Recommendations

By Manesh Samtani | 24/10/2023

Japan was re-rated from partially compliant to largely compliant on four recommendations and from non compliant to partially compliant on one recommendation.

AML / KYC

Egmont Group Suspends Membership of Russian FIU

By Editors | 23/10/2023

The move bars Rosfinmonitoring from using Egmont Group’s platform to share information with other FIUs and from playing any other role in the organisation.

AML / KYC

UK FCA Urges Firms to Strengthen Anti-Money Mule Controls

By Mark Johnston | 23/10/2023

The FCA published findings from a review of the systems and controls payment account providers have in place to detect and prevent money mule activity.

AML / KYC

FinCEN Issues Alert to Counter Hamas Financing Activities

By Editors | 23/10/2023

The alert contains red flags that FinCEN has identified to help detect, prevent, and report potential suspicious activity related to Hamas’ terrorist financing activity.

AML / KYC

Germany’s BaFin Fines Deutsche Bank for STR Filing Delays

By Editors | 23/10/2023

BaFin said Deutsche Bank submitted suspicious transaction reports to the FIU “with a delay”.

AML / KYC

FATF to Scrutinise India’s Use of NGO Laws Amid Allegations of Misuse

By Editors | 20/10/2023

FATF officials are expected to visit India in November to identify whether India is using its laws to suppress NPOs and civil society groups.