AML / KYC

AML / KYC

Singapore: Woman Jailed for Helping to Launder Scam Proceeds

By Sanday Chongo Kabange | 05/08/2021

Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.

AML / KYC

Korean Crypto Exchanges Start to Close Amid Regulatory Pressure

By Editors | 04/08/2021

Up to 11 cryptocurrency exchanges in Korea are planning to shut down after their deposit accounts were linked to fraudulent activities.

AML / KYC

Bangladesh Bank Reiterates Ban on Cryptocurrency

By Sanday Chongo Kabange | 04/08/2021

Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.

AML / KYC

Crypto Crime Reaches Record Levels in Hong Kong

By Editors | 04/08/2021

Victims lost HK$214m in cryptocurrency crimes in the first half of 2021, compared to HK$114.4mn across all of 2020.

AML / KYC

US Investment Ban on 59 Chinese Companies Takes Effect

By Editors | 04/08/2021

US persons that have not yet divested their holdings in 59 companies that operate in the defence or surveillance technology sectors have until 3 June 2022 to do so.

AML / KYC

Australian Mining Magnate Charged Over A$38.5m Tax Evasion

By Sanday Chongo Kabange | 03/08/2021

The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.

AML / KYC

NZ FIU Calls on Industry to Ramp Up AML Efforts

By Manesh Samtani | 03/08/2021

The goal is to push criminals to the margins and into the hands of non-compliant operators, where law enforcement can be deployed more effectively.

AML / KYC

EBA Issues Guidance on Role of AML Compliance Officers

By Editors | 03/08/2021

Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.

AML / KYC

US House Bill Offers Regulatory Framework for Crypto

By Manesh Samtani | 02/08/2021

The bill would give the SEC authority over digital asset securities, the CFTC authority over digital assets, and the Fed authority to issue a digital dollar.