AML / KYC

AML / KYC

Australia Sanctions More Russian Lawmakers, US Blocks Port Access

By Editors | 26/04/2022

Australia has now sanctioned nearly 750 individuals and entities in response to the war in Ukraine. Russian-affiliated vessels are prohibited from entering US ports.

AML / KYC

PwC Concludes Review of OCBC Anti Fraud Systems

By Ranamita Chakraborty | 26/04/2022

A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.

AML / KYC

FCA Directs Challenger Banks to Bolster FCC Controls

By Editors | 26/04/2022

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

AML / KYC

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

AML / KYC

Chinese Payments Firms Take Steps to Stop Online Fraud

By Editors | 25/04/2022

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.

AML / KYC

FSS Korea Launches Probe Over Shinhan Card Frauds

By Editors | 25/04/2022

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

AML / KYC

European Crypto Firms Push Back Against Proposed Regulations

By Editors | 24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

AML / KYC

TBML: Bangladesh Banks Ordered to Implement Vessel Tracking

By Editors | 24/04/2022

Bangladesh Bank issued the order to ensure banks comply with guidelines issued by BFIU requiring them to establish vessel-tracking systems.

Fintech / Regtech

Russia Finalises Bill to Give Crypto Legal Tender Status

By Sanday Chongo Kabange | 23/04/2022

The February version of the bill proposed to only allow crypto to be used as an investment vehicle. A digital ruble will be ready next year.