AML / KYC

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

By Editors | 13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

AML / KYC

India Accuses Xiaomi and Global Banks of Breaking FX Rules

By Karen Ng | 13/06/2023

Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.

AML / KYC

Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

By Editors | 12/06/2023

The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.

AML / KYC

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

By Manesh Samtani | 12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.

AML / KYC

NZ DIA Warns Real Estate Firm for AML Non-compliance

By Sanday Chongo Kabange | 09/06/2023

The warning is the second the DIA has issued to a real estate agent since the AML/CFT Act began applying to real estate agents in 2019.

AML / KYC

Ukraine Calls on FATF to Add Russia to Blacklist

By Manesh Samtani | 09/06/2023

Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.

Fintech / Regtech

In Global First, UK to Require Banks to Reimburse Fraud Losses

By Karen Ng | 08/06/2023

The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.

AML / KYC

HKMA, Cyberport Concludes Fourth AML Regtech Lab

By Karen Ng | 08/06/2023

The HKMA said it aims to have all retail banks taking a “consistent, coordinated approach to real-time fraud monitoring” by September 2023.

Enforcement

INTERPOL Issues Global Alert on Human Trafficking-Fueled Online Fraud

By Mark Johnston | 07/06/2023

INTERPOL warns of a “double-edged crime threat” that exploits victims of human trafficking as well as those forced to perpetrate online fraud.