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AML / KYC
BSP Proposes Draft Regulations on TFS Implementation
By Editors | 10/11/2022
The amendments target terrorist and proliferation financing and are aimed at helping the Philippines secure its removal from the FATF grey list.
Crypto / Digital Assets
OFAC Redesignated Tornado Cash to Link to DPRK WMD Programme
By Editors | 10/11/2022
The August designation did not connect Tornado Cash to North Korea’s nuclear programme.
AML / KYC
AML in Japan: Looking Back to Look Forward
By Hiroshi Ozaki | 09/11/2022
The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.
AML / KYC
New Zealand DIA Issues Warning to BNPL Provider Openpay
By Editors | 09/11/2022
Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.
AML / KYC
GLEIF Unveils Free Tool to Automate ELF Code Assignment
By Editors | 08/11/2022
The machine learning tool can extract the legal form from unstructured text and automate the assignment of entity legal form codes.
AML / KYC
UK Court Orders Glencore to Pay Over $300m for Africa Oil Bribes
By Editors | 08/11/2022
The SFO found that Glencore funnelled about $29mn worth of bribes between 2011 and 2016 to gain access to oil rights across Africa.
Crypto / Digital Assets
US Agents Seized Over $3.3bn in Silk Road’s Bitcoin Last Year: DOJ
By Editors | 08/11/2022
Over 50,000 Bitcoin, stolen from online marketplace Silk Road in 2012, was seized in November 2021 and has since lost more than two-thirds of its value.
AML / KYC
Australia Consults on New Beneficial Ownership Disclosure Regime
By Manesh Samtani | 08/11/2022
The first phase will require specified entities regulated under the Corporations Act to maintain accurate, up‑to‑date and publicly accessible beneficial ownership registers.
AML / KYC
IFSCA Issues AML/CFT Guidelines for GIFT City Regulated Entities
By Editors | 07/11/2022
The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.
AML / KYC
China Investigates Top PBOC Official for Possible Corruption
By Editors | 07/11/2022
PBOC deputy governor Fan Yifei has been placed under investigation over allegations of “severe violations of discipline and law”.
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