AML / KYC

AML / KYC

US Treasury Seeks Input on Illicit Finance Risks in Crypto

By Editors | 19/09/2022

The RFC calls for input on how to prevent crypto from being used for illicit finance, including through analytics tools and AML/CFT regulations.

AML / KYC

US Unveils Comprehensive Plans for Regulating Digital Assets

By Manesh Samtani | 18/09/2022

Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.

AML / KYC

OFAC Issues Guidance on Transacting With Tornado Cash

By Editors | 18/09/2022

US persons may request a specific licence from OFAC to complete transactions involving sanctioned crypto mixer Tornado Cash.

AML / KYC

Taiwan Launches Early Warning System to Combat Fraud

By Darien Choong | 18/09/2022

Banks are required to apply additional scrutiny of overseas transfers requested by customers via bank counters, to ensure the transaction is not the result of a fraud attempt.

AML / KYC

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

By Editors | 17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.

AML / KYC

US Imposes New Sanctions on Russian Targets

By Manesh Samtani | 16/09/2022

The US and EU are also discussing plans target Turkish banks that have joined Russia’s Mir payment system. Putin unexpectedly admitted to tensions with Xi.

AML / KYC

OFAC Sanctions Iranian Actors Over Ransomware Activity

By Editors | 15/09/2022

OFAC said the IRGC-affiliated group has launched extensive campaigns across the globe targeting defence, diplomatic, government and private industry personnel.

AML / KYC

MAS Identifies AML/CFT Control Lapses at VCCs

By Manesh Samtani | 14/09/2022

MAS found issues with EFI appointment, oversight and escalation. Customer risk assessments and ongoing monitoring need improvement.

AML / KYC

UN Official Calls for Removal of All Iran Sanctions

By Manesh Samtani | 14/09/2022

Alena Douhan calls on the US and its allies to lift all sanctions and other restrictions against Iran, and invites the UN to propose mechanisms of compensation, remedy and redress.