AML / KYC

Crypto / Digital Assets

UK Crypto Firms Required to Comply with Travel Rule by Sep 2023

By Manesh Samtani | 20/06/2022

The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.

AML / KYC

CBIRC Warns of Online Fraudsters Impersonating Regulators

By Editors | 19/06/2022

This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.

AML / KYC

FATF Concludes Final Plenary Under German Presidency

By Editors | 19/06/2022

FATF will soon publish an update on travel rule implementation in the crypto industry, a report on collaborative analytics, and new guidance for the real estate sector.

AML / KYC

EBA Finalises Guidance for AML/CFT Compliance Officers

By Editors | 19/06/2022

The guidelines comprehensively address, for the first time at the EU level, the whole AML/CFT governance set-up at financial institutions.

AML / KYC

SFC Fines China Everbright Securities for AML/CFT Violations

By Editors | 16/06/2022

Unrelated clients received deposits from the same third party within four days, and then used the funds to trade in the same stock.

AML / KYC

Singapore Trade Finance Registry to Go Live in Q4

By Editors | 16/06/2022

The Association of Banks in Singapore has selected MonetaGo and GUUD to deliver a registry that will prevent duplicate financing and fraud.

AML / KYC

UK OFSI Gets Stronger Powers to Punish Sanctions Breaches

By Editors | 16/06/2022

OFSI will no longer have to prove a person had knowledge or reasonable cause to suspect they were in breach of sanctions to impose a civil penalty.

AML / KYC

US, UK to Jointly Promote Privacy-Enhancing Tech for AML

By Editors | 15/06/2022

The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.

AML / KYC

Australian Federal Police Sets Sights on Italian Crime Groups

By Editors | 15/06/2022

Australian Police will use data obtained during Operation Ironside to target Italian organised crime syndicates for drug trafficking and money laundering.