AML / KYC

AML / KYC

CBSL to Prosecute Remittances via Informal Channels Under AML Law

By Duruthu E Chandrasekera | 07/12/2021

Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.

AML / KYC

Australian Parliament Approves Magnitsky-style Sanctions Law

By Manesh Samtani | 05/12/2021

The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.

AML / KYC

BNM Unveils Initial Findings of Malaysia National Risk Assessment

By Mark Johnston | 05/12/2021

BNM is using technology to improve its risk-based supervision, intelligence analysis, data science techniques and off-site surveillance.

AML / KYC

Interpol Concludes Global Operation Targeting Wildlife & Timber Crime

By Editors | 05/12/2021

Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.

Enforcement

Billionaire’s Arrest Signals China’s Intent to End Cross-Border Gambling

By Darien Choong | 05/12/2021

Suncity Group’s Alvin Chau allegedly operated a gambling syndicate that used Macau as a base for an illegal “live web betting platform” in the Philippines, targetting customers in mainland China.

AML / KYC

EU Due Diligence Initiative Back in Focus After Delays

By ESG Investor | 01/12/2021

Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.

AML / KYC

Environmental Crime, A Global Security Issue

By Manesh Samtani | 01/12/2021

Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.

AML / KYC

Police Arrest 1,000 in Interpol Operation Targeting Online Fraud

By Ranamita Chakraborty | 01/12/2021

The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.

AML / KYC

AUSTRAC to Update Guidance on Reporting Cash Transactions

By Editors | 30/11/2021

A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.