AML / KYC

AML / KYC

Taiwan Banks Warned of Credit Card Fraud Via Digital Wallets

By Editors | 04/07/2022

The FSC asked the Bankers Association to amend its guidances to ensure consumers get notifications when their credit card is added to a digital wallet.

AML / KYC

Limited Progress Made on Travel Rule Implementation: FATF

By Editors | 01/07/2022

Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.

AML / KYC

FATF Seeks Views on Improvements to Recommendation 25

By Editors | 30/06/2022

The review is intended to improve Recommendation 25 and its Interpretive Note to better meet its stated objective to prevent the misuse of legal arrangements.

Crypto / Digital Assets

EU Lawmakers Agree on AML Framework for Crypto

By Manesh Samtani | 30/06/2022

Crypto asset service providers will be required to implement customer protection measures and robust AML/CFT safeguards including the travel rule.

AML / KYC

Canadian Banks Collaborate on KYC Utility Project

By Editors | 30/06/2022

The five banks will collaborate with CanDeal Group to create a common data and regulatory experience for the industry.

Enforcement

Korea to Launch Investigation Team to Combat Voice Phishing

By Editors | 30/06/2022

The plan was announced in response to the death of a small business owner who committed suicide after he was scammed out of more than KRW 160 million.

AML / KYC

G7 Nations Announce Ban on Russian Gold Imports

By Manesh Samtani | 30/06/2022

The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.

Enforcement

Woori Bank, Crypto Exchange Under Probe for Money Laundering

By Editors | 29/06/2022

This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.

AML / KYC

Swiss Criminal Court Convicts Credit Suisse for Money Laundering

By Editors | 29/06/2022

The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.