AML / KYC

AML / KYC

Russia Launches Blockchain-Based Alternative to SWIFT

By Editors | 14/06/2022

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

AML / KYC

FATF Re-rates UK for Progress on Correspondent Banking

By Editors | 14/06/2022

The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.

AML / KYC

Japan, Singapore to Explore Mutual Recognition of Digital Identity

By Editors | 14/06/2022

Mutual recognition of digital identity credentials is part of an agreement to cooperate on the digital transformation of government services.

AML / KYC

IMF Calls on Philippines to Enhance AML Supervision

By Sanday Chongo Kabange | 14/06/2022

Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.

AML / KYC

Japan Ministry Seeks Powers to Confiscate Crypto Assets

By Editors | 12/06/2022

Japan’s organised crime law currently only allows seizures of real property, movable assets and monetary claims, but not crypto assets.

AML / KYC

FATF Issues Report on Digital Tools for Law Enforcement

By Editors | 12/06/2022

The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.

AML / KYC

OFAC Blocks Secondary Market Trading in Russian Debt, Equity

By Editors | 12/06/2022

To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.

AML / KYC

BNM Directs Banks to Enhance Fraud Risk Controls

By Editors | 12/06/2022

BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.

AML / KYC

DOJ Calls for Stronger International Cooperation on Crypto Crime

By Editors | 08/06/2022

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.