AML / KYC

AML / KYC

Weak Environmental Crimes Law a Risk to Investors

By ESG Investor | 19/12/2022

European Council’s position on the revised Environmental Crime Directive will damage portfolios as well as the environment, says WWF.

AML / KYC

FinCEN Proposes Rules on Access to Beneficial Ownership Information

By Editors | 18/12/2022

The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.

AML / KYC

NZ FMA Issues AML Warning Against Private Equity Firm

By Editors | 18/12/2022

The FMA said Pencarrow Private Equity failed to retain and make readily accessible identity and verification records for customers.

Enforcement

US SEC, DOJ Charge Social Media Influencers for Securities Fraud

By Mark Johnston | 18/12/2022

Eight individuals are accused of engaging in a conspiracy to commit securities fraud through a social media-based “pump and dump” scheme.

AML / KYC

HKMA Asks StanChart to Investigate Unauthorised Card Transactions

By Editors | 18/12/2022

Standard Chartered has said there is no evidence of a data leak, that it would arrange refunds, and that it has strengthened its monitoring systems in response.

AML / KYC

Singapore Releases Blueprint to Combat Ransomware Attacks

By Mark Johnston | 17/12/2022

The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.

AML / KYC

Malaysian Banks to Finish Implementing Anti-Scam Measures by June 2023

By Editors | 16/12/2022

More than 80 percent of banks have already implemented a 24/7 dedicated complaint hotline for customers to report incidents or suspicions of fraud.

AML / KYC

Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes

By Sanday Chongo Kabange | 15/12/2022

Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.

AML / KYC

AUSTRAC Releases First Proliferation Financing Risk Assessment

By Manesh Samtani | 15/12/2022

Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.