AML / KYC

AML / KYC

Sydney Court Jails Man for Cryptocurrency Money Laundering

By Sanday Chongo Kabange | 08/04/2021

The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.

AML / KYC

Philippines Expands AML Rules to Financing, Lending Firms

By Ranamita Chakraborty | 08/04/2021

All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.

AML / KYC

FinCEN Consults on Beneficial Ownership Reporting Requirement

By Editors | 08/04/2021

FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.

AML / KYC

Japan Crypto Industry to Adopt Travel Rule by April 2022

By Sanday Chongo Kabange | 07/04/2021

The FSA has written to the JVCEA advising it to start preparing for the implementation of the travel rule in Japan’s crypto industry.

AML / KYC

Australia Lags Regional Peers on DNFBP Regulation: Report

By Manesh Samtani | 03/04/2021

Australia is sending a message to financial criminals around the world that its lawyers, accountants and property market are open for business.

AML / KYC

Hong Kong to Allow Companies to Conceal Director Identities

By Manesh Samtani | 03/04/2021

The proposal will hamper the ability of investors, banks, property agents, researchers and journalists to carry out due diligence on transactions and counterparties.

AML / KYC

China Issues Draft Rules on Beneficial Ownership Identification

By Editors | 03/04/2021

FIs will be required to verify the identities of all ultimate beneficial owners of accounts opened and maintained for all customers.

Enforcement

SG Police Investigate Over 300 Individuals in Cases of Scams

By Editors | 31/03/2021

The suspects are being investigated for the offences of cheating, money laundering or providing payment services without a licence.

AML / KYC

AUSTRAC Publishes Regulatory Guides on Strengthen AML Controls

By Editors | 31/03/2021

The regulatory gives cover governance, risk assessments, customer due diligence, IFTIs reporting, and correspondent banking relationships.