AML / KYC

AML / KYC

European Commission Proposes Complete Ban on Russian Oil

By Editors | 05/05/2022

Three more Russian banks will be removed from SWIFT, three broadcasters will be blocked, and more military officers and individuals will be sanctioned.

AML / KYC

BSP Sanctions BDO, UBP Over Unauthorised Bank Transfers

By Editors | 04/05/2022

The BSP said it has completed its investigation into the incident and sanctioned both BDO Unibank and UBP, but it did not specify the penalties.

AML / KYC

NAB Enters Undertaking to Uplift AML/CTF Compliance

By Editors | 04/05/2022

NAB’s action plan has to be completed by 31 Dec 2024, and a final report issued by Mar 2025. An independent auditor will have to report progress to AUSTRAC annually.

AML / KYC

EU Set to Propose Sixth Sanctions Package Against Russia

By Manesh Samtani | 04/05/2022

The new measures include a possible phased-in embargo on buying Russian oil and EU sanctions against Sberbank, with Germany’s backing.

AML / KYC

Korean Police Arrest Woori Employee for Embezzlement

By Editors | 03/05/2022

The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.

AML / KYC

India: CERT-In Includes Crypto Firms in New Directions

By Manesh Samtani | 03/05/2022

The directions require crypto exchanges, custodians and wallet providers in India to retain KYC information for five years and report cyber incidents to CERT-In.

AML / KYC

Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

By Editors | 02/05/2022

MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

AML / KYC

German Authorities Raid Deutsche Bank in Money Laundering Probe

By Editors | 02/05/2022

The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.

AML / KYC

Chinese Regulators Consider Options to Guard Against Sanctions

By Editors | 02/05/2022

Officials from the PBOC, MOF and CSRC reportedly met with foreign and domestic banks to discuss ways to protect China’s foreign assets from possible future US sanctions.