AML / KYC

    Crypto / Digital Assets

    Korea FSS Finds More Suspicious Crypto-Linked FX Transactions

    By Editors | 28/09/2022

    FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

    AML / KYC

    SFC Shines Regulatory Spotlight on Online Platforms

    By Hannah Cassidy | 28/09/2022

    Hannah Cassidy and Natalie Curtis discuss key areas of concern for the SFC in relation to the online platforms operated by licensed firms.

    AML / KYC

    AUSTRAC Identifies Emerging AML Risks Facing Super Funds

    By Sanday Chongo Kabange | 28/09/2022

    Super funds are exposed to cyber crime, as well as AML risks resulting from the growth in merger activity across the sector.

    AML / KYC

    Malaysia Announces New Measures to Combat Financial Scams

    By Editors | 28/09/2022

    Malaysian banks will migrate SMS OTP to a more secure form of authentication, and further tighten detection rules and triggers to block scam-related transactions.

    AML / KYC

    AUSTRAC Spotlights Risks Associated with Remittance Sector

    By Sanday Chongo Kabange | 27/09/2022

    Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

    AML / KYC

    Deutsche Bank to Settle US Shareholder Lawsuit for $26m

    By Editors | 27/09/2022

    Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.

    AML / KYC

    AUSTRAC Releases Risk Assessment of Bullion Sector

    By Editors | 26/09/2022

    Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.

    AML / KYC

    UK Introduces Economic Crime Bill to Parliament

    By Editors | 26/09/2022

    The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.

    AML / KYC

    India: ICAI Probes 200 Accountants Over Shell Company Setups

    By Editors | 26/09/2022

    Around 200 chartered accountants are subject to a probe involving shell companies established in India by Chinese firms.

    AML / KYC

    HKMA Penalises Cathay United Bank for AML Deficiencies

    By Editors | 25/09/2022

    Besides CDD and EDD failures, the bank’s risk classification framework was “defective by design” and senior management oversight was “inadequate”.

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