AML / KYC

AML / KYC

China Sanctions Pelosi, Halts US Cooperation on Crime, Climate

By Editors | 08/08/2022

China sanctioned US House Speaker Nancy Pelosi and her immediate family over her visit to Taiwan, and will suspend cooperation with the US in a number of areas.

Enforcement

OFAC Investigating Kraken for Alleged Sanctions Violations

By Editors | 07/08/2022

Kraken is suspected of allowing Iranian users to utilise Kraken’s services, in violation of federal sanctions.

AML / KYC

Switzerland Aligns with EU in Latest Russia Sanctions

By Editors | 05/08/2022

The Swiss government is imposing a ban on buying, importing or transporting gold and gold products from Russia. Sberbank is also banned.

AML / KYC

ACCC Raises Alarm Over Rising Fake Bond Scams

By Editors | 05/08/2022

Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.

Enforcement

More Senior Officials Fall Under Corruption Probes in China

By Darien Choong | 04/08/2022

Officials from the MIIT, CBIRC and PBOC have been named in a fresh round of corruption investigations.

AML / KYC

ECB Analyses Options for Enhancing Cross-Border Payments

By Manesh Samtani | 04/08/2022

Bitcoin and stablecoins are “unlikely” to be the “holy grail” of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.

AML / KYC

New York State Regulator Penalises Robinhood Crypto Unit

By Editors | 04/08/2022

Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.

AML / KYC

US SEC Charges 11 Over Crypto Pyramid and Ponzi Scheme

By Editors | 04/08/2022

Forsage investors earned profits by recruiting others into the scheme, which used assets from new investors to pay earlier investors.

AML / KYC

DBS-led Hackathon to Tackle Fraud Challenges

By Editors | 04/08/2022

More than 100 law enforcers, lawyers, bank staff and other professionals have assembled into teams to brainstorm new solutions to stop scams.