AML / KYC

AML / KYC

G7 Powers Set to Implement Oil Price Cap on Russian Crude

By Editors | 04/12/2022

EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.

AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

By Editors | 04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

AML / KYC

Police Ad Test Highlights Hong Kong Scam Threat – Report

By Editors | 04/12/2022

A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.

AML / KYC

US Banks Preparing to Accept More Liability for Zelle Frauds

By Editors | 04/12/2022

Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

AML / KYC

FATF Calls on AML Practitioners to Target Opioids Trafficking

By Manesh Samtani | 02/12/2022

New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.

AML / KYC

Texas Unseals Charges Against 21 Crypto Money Launderers

By Editors | 02/12/2022

The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.

Enforcement

Korean Prosecutors Seek More Terra-related Arrest Warrants

By Editors | 01/12/2022

New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.

AML / KYC

AUSTRAC Commences Court Proceedings Against Star Casinos

By Manesh Samtani | 01/12/2022

Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.