AML / KYC

Chinese Court Sentences Ex-CDB Exec to 10 Years Jail

By Editors | 18/04/2023

The court found that Fu Xiaodong accepted bribes over 13 years while serving in senior positions at the China Development Bank.

AML / KYC

UK Watchdog Faces Surge in AML Whistleblower Reports

By Mark Johnston | 18/04/2023

The UK FCA has received 141 reports from insiders who raised concerns about their firms’ AML controls in the past six years.

Enforcement

Russian National Receives Light Sentence for Laundering Ransomware Proceeds

By Mark Johnston | 18/04/2023

Denis Dubnikov laundered money for the Ryuk ransomware gang, but pleaded guilty and cooperated with investigators.

Crypto / Digital Assets

GDF Consults on Wolfsberg-style DDQ for VASPs

By Editors | 18/04/2023

The questionnaire is intended for use by VASPs and other financial institutions including banks for onboarding VASPs.

AML / KYC

GLEIF Maps LEIs to Records in OpenCorporates Database

By Editors | 18/04/2023

The mapping exercise will ensure the “highest quality reference data” is quickly and easily available to all, said GLEIF CEO Stephan Wolf.

AML / KYC

New Singapore Bills Target Money Mules, Singpass Abuse

By Manesh Samtani | 18/04/2023

The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.

AML / KYC

Wolfsberg Group Issues Anti-Bribery & Corruption Guidance

By Editors | 18/04/2023

The Guidance is to help FIs develop and implement compliance programmes to prevent, detect, and report acts of bribery and corruption.

AML / KYC

Australia Saw 80pc YoY Jump in Scam Losses in 2022

By Editors | 18/04/2023

Australians lost more to scams than ever before in 2022. Losses per victim rose by more than 50% to an average of almost A$20,000.

AML / KYC

Australia Revisits ‘Tranche 2’ AML Reforms – Report

By Editors | 17/04/2023

The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.

AML / KYC

Hong Kong Police Bust SIM Card Fraud Ring Linked to Triads

By Mark Johnston | 16/04/2023

The suspects registered SIM cards with fake IDs and sold them to scammers who created social media accounts to lure victims.

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