AML / KYC

AML / KYC

HK, Macau Police Arrest Break Up Romance Scam Syndicate

By Editors | 11/07/2021

The syndicate is said to have conned 10 local victims out of HKD 20 million and another seven out of HKD 1.5 million in Macau.

AML / KYC

HKMA Launches Campaign to Raise Awareness of Phishing

By Sanday Chongo Kabange | 08/07/2021

HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.

AML / KYC

US, Switzerland Announce New Sanctions Against Myanmar

By Sanday Chongo Kabange | 07/07/2021

The Treasury has sanctioned 22 more individuals connected to Myanmar’s military, while the Department of Commerce added four companies to its Entity List.

AML / KYC

FATF Urges Faster Implementation of Travel Rule in Crypto Sector

By Editors | 06/07/2021

Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.

AML / KYC

Westpac Identifies Potential Fraud Involving Finance Company

By Ranamita Chakraborty | 06/07/2021

Westpac is said to have provided lease financing to customers only to later discover that it had lent money against office equipment that may not have existed.

AML / KYC

FATF Examines Collaborative Analytics and the Need for Privacy

By Manesh Samtani | 06/07/2021

An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.

AML / KYC

SFC Fines Yardley Securities CEO for AML/CFT Breaches

By Editors | 05/07/2021

The processing and approval of suspicious third party fund transfers were attributable to the CEO’s failures to discharge his duties, the SFC said.

AML / KYC

Taiwan: New AML Rules For Crypto Exchanges Take Effect

By Sanday Chongo Kabange | 05/07/2021

Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.

AML / KYC

FinCEN Publishes First Government-wide AML/CFT Priorities

By Ranamita Chakraborty | 05/07/2021

FinCEN will publish new rules within 6 months reflecting the priorities, which identify the most significant AML/CFT threats currently facing the US.