AML / KYC

AML / KYC

Germany to Form New Federal Authority for Financial Crime

By Editors | 26/08/2022

Germany currently has more than 300 supervisors, an issue highlighted by the FATF in its latest mutual evaluation report on the country.

AML / KYC

MAS Issues AML Guidance for External Asset Managers

By Manesh Samtani | 25/08/2022

The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.

AML / KYC

Wolfsberg Group Issues Guidance on Correspondent Banking RFIs

By Editors | 24/08/2022

When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.

Enforcement

SG Police Make Series of Arrests Targeting Scam Syndicates

By Editors | 24/08/2022

4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.

AML / KYC

Malaysia: Federal Court Upholds Najib Razak Conviction

By Editors | 24/08/2022

Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.

Enforcement

US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

By Editors | 23/08/2022

Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

AML / KYC

India, Russia Continue to Explore Non-USD Trade Options

By Editors | 23/08/2022

Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.

AML / KYC

Malaysia to Enhance AML Supervision of Company Secretaries, Trust Companies

By Editors | 23/08/2022

The Companies Commission of Malaysia will “take on greater responsibility” in supervising company secretaries and trust companies “in the near future”.

AML / KYC

US Concerned India is Routing Russian Oil to New York

By Editors | 22/08/2022

An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.