AML / KYC

AML / KYC

Police Ad Test Highlights Hong Kong Scam Threat – Report

By Editors | 04/12/2022

A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.

AML / KYC

US Banks Preparing to Accept More Liability for Zelle Frauds

By Editors | 04/12/2022

Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

AML / KYC

FATF Calls on AML Practitioners to Target Opioids Trafficking

By Manesh Samtani | 02/12/2022

New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.

AML / KYC

Texas Unseals Charges Against 21 Crypto Money Launderers

By Editors | 02/12/2022

The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.

Enforcement

Korean Prosecutors Seek More Terra-related Arrest Warrants

By Editors | 01/12/2022

New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.

AML / KYC

AUSTRAC Commences Court Proceedings Against Star Casinos

By Manesh Samtani | 01/12/2022

Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.

AML / KYC

GLEIF Enables LEI Mapping for S&P Global Company IDs

By Editors | 30/11/2022

GLEIF already provides ISIN-LEI, BIC-LEI and MIC-LEI mapping certification, and has been encouraging data vendors to map their identifiers to the LEI.

AML / KYC

FATF Re-rates China on Two More Recommendations

By Editors | 30/11/2022

China was re-rated for progress made in the implementation of PF-related targeted financial sanctions and on beneficial ownership transparency.