AML / KYC

AML / KYC

US Issues New Russia Sanctions, EU Approves 6th Package

By Editors | 02/06/2022

The US is targeting more Russian government and business officials and technology. The EU approved an embargo on seaborne oil imports.

AML / KYC

More Chinese Firms Fall Under India Probe for ‘Irregularities’

By Editors | 02/06/2022

The MCA says it has received information that indicates potential violations including fraud by Chinese companies operating in India.

AML / KYC

Malaysia SC Offers Guidance on Detecting Fake Investment Firms

By Editors | 01/06/2022

In one case, approximately $821,000 flowed through one mule bank account controlled by scam operators within a period of six months.

AML / KYC

EU Leaders Agree to Ban 90pc of Russian Oil by Year-end

By Manesh Samtani | 01/06/2022

The EU’s sixth package of sanctions will also include the removal of three more banks from the SWIFT network and asset freezes against more Russian individuals.

AML / KYC

FATF Re-rates New Zealand for Progress on UBO Transparency

By Editors | 31/05/2022

The FATF says New Zealand was re-rated on Recommendation 25 due to new requirements for trusts coming into force.

AML / KYC

Bangladesh to Introduce Amnesty Scheme for Laundered Money

By Editors | 31/05/2022

The Bangladesh government plans to allow laundered funds to be repatriated without penalty to boost its foreign exchange reserves.

AML / KYC

US Treasury Puts Russia on Path to Sovereign Default

By Manesh Samtani | 27/05/2022

The US Treasury Department allowed its sanctions exemption for Russian payments to US bondholders to expire.

AML / KYC

Glencore to Pay $1.5b to Settle Bribery & Manipulation Probes

By Manesh Samtani | 26/05/2022

The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.

AML / KYC

Seoul Prosecutors Revive Specialised Financial Crime Team

By Editors | 24/05/2022

A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.