AML / KYC

AML / KYC

Head of German FIU Resigns Over Secret SAR Backlog – Report

By Editors | 22/12/2022

The German FIU was sitting on more than 100,000 unprocessed SARs which it did not disclose to the FATF during its mutual evaluation.

AML / KYC

Bangladesh Banks Under Scrutiny for Alleged Loan Scams

By Editors | 22/12/2022

Bangladesh Bank directed five banks to submit daily reports on loan disbursements. Two of the banks have observers appointed to monitor operations.

Enforcement

US, Brazil Settle Honeywell Bribery Charges for Over $200m

By Editors | 22/12/2022

Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

AML / KYC

NZ FMA Takes Tiger Brokers to Court for AML Failings

By Editors | 22/12/2022

Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain appropriate records.

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Crypto / Digital Assets

US Lawmakers Introduce AML/CFT Bill for Crypto Firms

By Mark Johnston | 19/12/2022

The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.

AML / KYC

AUSTRAC Issues Guidance on Detecting OSEC Crime

By Editors | 19/12/2022

AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.

AML / KYC

Weak Environmental Crimes Law a Risk to Investors

By ESG Investor | 19/12/2022

European Council’s position on the revised Environmental Crime Directive will damage portfolios as well as the environment, says WWF.

AML / KYC

FinCEN Proposes Rules on Access to Beneficial Ownership Information

By Editors | 18/12/2022

The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.