AML / KYC

AML / KYC

Philippine AMLC Issues Guidance on TFS Delisting, Unfreezing Orders

By Sanday Chongo Kabange | 02/08/2021

Designated persons shall apply to the AMLC for authorisation if they wish to deal with or access funds or assets that are frozen due to targeted financial sanctions.

AML / KYC

Western Australia Man Jailed for Dealing in Criminal Proceeds

By Editors | 02/08/2021

The man was sentenced to five years jail over A$6.1mn in cash discovered as a result of intelligence gained during Operation Ironside.

AML / KYC

Fighting Financial Crime with Advanced Technologies

By Ashish Rai | 02/08/2021

AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

AML / KYC

AUSTRAC Consults on AML/CTF Rule Amendments

By Editors | 31/07/2021

The amendments allow FIs to carry out ACIP on a customer after an account is opened, provided the initial deposit is the only transaction made at opening.

AML / KYC

FSC Finds VASP Deposit Accounts Linked to Fraudulent Activity

By Editors | 29/07/2021

Crypto exchanges in Korea are required to use bank accounts under their real names. Third party bank accounts are not allowed.

AML / KYC

Crypto to Become One of the ‘Safest Environments Ever’

By Manesh Samtani | 28/07/2021

Experts discuss regulatory fragmentation, rapid travel rule adoption, and good compliance practices for VASPs.

AML / KYC

Australia Jails Sydney Man for Breaching North Korea Sanctions

By Manesh Samtani | 28/07/2021

The AFP uncovered evidence that the man was generating income for North Korea’s government by facilitating the transfer of various commodities to and from the country.

AML / KYC

MAS to Review Liability Framework for Card Scams by Year-end

By Ranamita Chakraborty | 27/07/2021

The Singapore police received 89 reports of fraudulent card transactions performed with SMS OTPs between September 2020 and February 2021.