AML / KYC

AML / KYC

US Sanctions Companies in HK, UAE for Iran-linked Dealings

By Editors | 23/06/2022

The sanctions came on the back of attempts by the US to restore the JCPOA, for which Iran is demanding some sanctions be lifted.

AML / KYC

PBOC Eases Overseas Transactions Rules for Domestic Payment Firms

By Darien Choong | 23/06/2022

Domestic payments institutions can use the cross-border CNY settlement services of banks for e-commerce and ‘new models’ of foreign trade.

AML / KYC

AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions

By Sanday Chongo Kabange | 22/06/2022

AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.

Crypto / Digital Assets

Taiwan Central Bank Warns Against Investing in NFT Market

By Darien Choong | 22/06/2022

NFTs are not suitable for retail investors, due to a lack of regulation, liquidity, and clarity over ownership, the central bank says.

AML / KYC

Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative

By Editors | 21/06/2022

Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.

AML / KYC

HK Customs Arrests Woman for Suspected Laundering of HK$350m

By Editors | 21/06/2022

The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.

AML / KYC

Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April

By Editors | 21/06/2022

Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.

Crypto / Digital Assets

UK Crypto Firms Required to Comply with Travel Rule by Sep 2023

By Manesh Samtani | 20/06/2022

The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.

AML / KYC

CBIRC Warns of Online Fraudsters Impersonating Regulators

By Editors | 19/06/2022

This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.