AML / KYC

AML / KYC

AUSTRAC Launches Specialist AML Unit for Gambling Sector

By Editors | 13/03/2023

AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.

AML / KYC

FATF Finalises Revisions to Recommendation 24 Guidance

By Editors | 13/03/2023

The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.

AML / KYC

Former Malaysian PM Muhyiddin Charged With Corruption

By Editors | 13/03/2023

Former prime minister Muhyiddin Yassin was charged with four counts of abuse of power and three counts of money laundering.

AML / KYC

BOT Announces Additional Measures to Combat Financial Fraud

By Editors | 10/03/2023

“Near real-time” monitoring systems must be implemented that can detect and immediately freeze suspicious transactions, among other measures.

AML / KYC

1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

By Editors | 10/03/2023

Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

AML / KYC

REPO Task Force Has Immobilised $58b of Russian Assets

By Editors | 10/03/2023

The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

AML / KYC

Indian Crypto Businesses Now Subject to AML Laws

By Editors | 10/03/2023

Indian crypto firms are now formally required to perform KYC due diligence, verify client identities, monitor transactions, and report suspicious activities.

Securities / Derivatives

SFC Fines City International Futures for AML Compliance Failures

By Editors | 10/03/2023

City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

AML / KYC

Korea Customs: Crypto Involved in 70pc of Illicit Fund Flows in 2022

By Editors | 09/03/2023

The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.