AML / KYC

Enforcement

China: Top Banking and Securities Officials Accused of Corruption

By Darien Choong | 09/12/2021

A new wave of anti-corruption probes has brought down senior officials and executives from the SSE, CSRC, CBIRC, ICBC and Everbright Bank.

AML / KYC

Japan FSA Seeks to Introduce Restrictions on Stablecoin Issuance

By Sanday Chongo Kabange | 09/12/2021

The FSA reportedly seeks to propose legislation to only allow banks and wire transfer companies to issue stablecoins, and to regulate wallet providers.

AML / KYC

Japan: Sony Life Employee Embezzles $155m While Working Remotely

By Sanday Chongo Kabange | 09/12/2021

The Sony Life Insurance employee allegedly embezzled $155mn while working on liquidating the reinsurer’s assets after it closed.

AML / KYC

FinCEN to Tighten Rules on Beneficial Ownership, Real Estate Deals

By Manesh Samtani | 09/12/2021

The proposed rules are aimed at protecting the US financial system from money laundering enabled by shell companies and all-cash real estate deals.

AML / KYC

NZ FMA Risk Assessment Finds VASPs Sector ‘High Risk’

By Sanday Chongo Kabange | 07/12/2021

The FMA’s sector risk assessment for 2021 says VASPs, derivatives issuers and online investment platforms could be targeted by money launderers.

AML / KYC

CBSL to Prosecute Remittances via Informal Channels Under AML Law

By Duruthu E Chandrasekera | 07/12/2021

Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.

AML / KYC

Australian Parliament Approves Magnitsky-style Sanctions Law

By Manesh Samtani | 05/12/2021

The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.

AML / KYC

BNM Unveils Initial Findings of Malaysia National Risk Assessment

By Mark Johnston | 05/12/2021

BNM is using technology to improve its risk-based supervision, intelligence analysis, data science techniques and off-site surveillance.

AML / KYC

Interpol Concludes Global Operation Targeting Wildlife & Timber Crime

By Editors | 05/12/2021

Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.