AML / KYC

AML / KYC

AUSTRAC Seizes Star Casino Files in Money Laundering Probe

By Sanday Chongo Kabange | 20/10/2021

AUSTRAC is reported to be building a case against Star Entertainment Group over alleged shortcomings in its AML/CTF controls.

AML / KYC

Credit Suisse Settles Charges Over Mozambique ‘Secret Debt’

By Editors | 20/10/2021

Transactions that raised over $1bn were used to “perpetrate a hidden debt scheme”, pay kickbacks to investment bankers, and bribe government officials.

AML / KYC

India, US Pledge to Take Stronger Action Against Financial Crime

By Editors | 20/10/2021

Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.

AML / KYC

Singapore Consults on Amendments to Accountants Act

By Sanday Chongo Kabange | 20/10/2021

Under the changes, ACRA can conduct inspections on accountants for compliance with AML/CFT requirements, and impose penalties for non-compliance.

AML / KYC

UPDATED – BOT Calms Nerves Amid Large Scale Bank Card Fraud  

By Pongnut Thanaboonchai | 18/10/2021

More than 10,000 card holders have experienced unatuthorised transactions on credit and debit cards issued by several Thai banks.

AML / KYC

OFAC Issues Sanctions Guidance for Crypto Sector

By Editors | 17/10/2021

OFAC expects virtual currency operators to identify and block IP addresses that originate in sanctioned jurisdictions, including via VPNs.

AML / KYC

RBI to Allow Foreign Banks to Store Limited Data Overseas

By Editors | 14/10/2021

Following meetings with foreign banks, the RBI will allow certain static data to be stored in offshore locations for AML and sanctions screening purposes.

Enforcement

Hong Kong Police Arrest 32 Over PLGS Loan Fraud

By Sanday Chongo Kabange | 13/10/2021

A syndicate with triad links allegedly use cold calls and posed as bank staff to lure victims into the illicit scheme promising government-guaranteed low-interest loans.

Enforcement

Singapore Woman Admits to Receiving Criminal Proceeds

By Ranamita Chakraborty | 11/10/2021

On instructions from a man she met online, a secretary of a law firm opened bank accounts that were used to receive funds stolen from a Botswana bank.