AML / KYC

    AML / KYC

    China Steps Closer to Law to Protect Against US Sanctions

    By Editors | 09/06/2021

    A second draft of legislation aimed at countering US sanctions has reportedly been filed and is expected to be voted on soon.

    Enforcement

    Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

    By Ranamita Chakraborty | 09/06/2021

    The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

    AML / KYC

    US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers

    By Sanday Chongo Kabange | 09/06/2021

    Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.

    AML / KYC

    European Commission Proposes European Digital Identity Regulation

    By Sanday Chongo Kabange | 08/06/2021

    To expedite the initiative, the European Commission has issued a recommendation for member states to establish a common toolbox by September 2022.

    AML / KYC

    AUSTRAC Launches Fresh Probes into Australian Casinos

    By Ranamita Chakraborty | 07/06/2021

    AUSTRAC has launched enforcement investigations into Crown Perth, The Star Sydney and SkyCity Adeliade over their dealings with high-risk customers and PEPs.

    AML / KYC

    Japan FSA Sets Hard Deadline for Full AML/CFT Compliance

    By Editors | 07/06/2021

    The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.

    AML / KYC

    AUSTRAC Launches Formal Probe into NAB Over AML Breaches

    By Sanday Chongo Kabange | 07/06/2021

    AUSTRAC said it is not considering civil penalty proceedings at this stage, a decision made based on the work undertaken by NAB to date.

    AML / KYC

    G7 Backs – but Looks Beyond – Mandatory Climate Disclosures

    By ESG Investor | 07/06/2021

    TCFD, IASB frameworks endorsed; communique also calls for progress on impact, nature-based and beneficial ownership reporting.

    AML / KYC

    FSC Korea Meets Crypto Exchanges Over Regulatory Reforms

    By Sanday Chongo Kabange | 07/06/2021

    The meeting focused on the operational difficulties faced by firms as they try to meet new regulatory requirements by a 24 September deadline.

    AML / KYC

    AUSTRAC Publishes Guidance on Detecting Cuckoo Smurfing

    By Manesh Samtani | 07/06/2021

    The guidance offers indicators to help financial services firms identify and report suspicious transactions related to cuckoo smurfing.

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