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AML / KYC
Japan to Tighten Russia Sanctions, G7 Rejects Ruble Option
By Manesh Samtani | 30/03/2022
Japan to impose new requirements on crypto exchanges. G7 rejects Russian demand for gas payments in rubles. US to help EU reduce dependence on Russian energy.
AML / KYC
US Lawmakers Probe Credit Suisse Russia Business
By Editors | 30/03/2022
The lawmakers are concerned that Credit Suisse may be concealing information about sanctions evasion by Russian oligarchs.
AML / KYC
Wolfsberg Group Issues Guidance on Managing Customer Risk
By Manesh Samtani | 29/03/2022
FIs should consider building “more holistic” customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.
AML / KYC
GLEIF to Include Organisational Role Information in vLEI
By Editors | 29/03/2022
GLEIF says the new ISO 5009 standard facilitates a universal approach for including official organisational role information in digital ID credentials.
Enforcement
Singapore Jails Nominee Director for Facilitating Illicit Activities
By Editors | 29/03/2022
The director of corporate service provider 3E Accounting served as local resident director of four companies whose bank accounts were used to receive criminal proceeds.
AML / KYC
US, Australia Impose Sanctions Over DPRK Missile Tests
By Manesh Samtani | 28/03/2022
The sanctions were imposed against Russian and North Korean entities and individuals over missile tests on 27 February, 5 March and 24 March.
AML / KYC
EBA Outlines AML/CFT Challenges Faced by EU Supervisors
By Ranamita Chakraborty | 27/03/2022
In a new report, the EBA outlines findings from its second round of assessment of the approaches AML/CFT supervisors are using in the banking sector.
AML / KYC
US Imposes Fresh Russia Sanctions, G7 Pledges to Block Gold Trades
By Manesh Samtani | 25/03/2022
The G7 and EU will prohibit gold-related transactions involving Russia and ramp up monitoring and information sharing to prevent Russian sanctions evasion.
AML / KYC
SFC Sets Out Expectations on Managing BEC Risk
By Manesh Samtani | 24/03/2022
Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.
AML / KYC
FSC Korea Starts Enforcing Travel Rule in Crypto Industry
By Editors | 24/03/2022
Starting today, VASPs can be subject to cautions, warnings or corrective orders if violations of travel rule requirements are found.
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