AML / KYC

AML / KYC

US Regulators Fine National Bank of Pakistan $55m for AML Violations

By Sanday Chongo Kabange | 01/03/2022

National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.

AML / KYC

Singapore, Korea, Switzerland Announce Sanctions Against Russia

By Manesh Samtani | 01/03/2022

Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.

AML / KYC

Taiwan Police, FIs to Establish Anti-Fraud Information Sharing Platform

By Editors | 28/02/2022

The National Police Agency and financial institutions will jointly establish a new platform that will allow real-time information exchange for use in combatting fraud.

AML / KYC

BitConnect Founder Indicted for Running Crypto Ponzi Scheme

By Editors | 28/02/2022

BitConnect founder Satish Kumbhani and his co-conspirators obtained fraudulent gains from investors amounting to about USD 2.4 billion.

AML / KYC

The SFC Approach to Virtual Assets Prioritises Investor Protection

By Manesh Samtani | 28/02/2022

Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.

AML / KYC

Western Leaders Pledge to Remove Russian Banks from SWIFT

By Manesh Samtani | 28/02/2022

Western leaders have committed to removing “selected Russian banks” from the SWIFT financial messaging system to harm their ability to operate globally.

AML / KYC

EC Adopts Proposal on Corporate Sustainability Due Diligence

By Manesh Samtani | 28/02/2022

The proposal requires companies, including certain non-EU companies, to address negative human rights and environmental impacts in their supply chains.

AML / KYC

BitMEX Founders Agree Settlement for US AML Violations

By Editors | 28/02/2022

Arthur Hayes and Benjamin Delo have pleaded guilty to breaching AML laws and agreed to pay a USD 10 million fine each.

AML / KYC

PBOC Allows Merchants to Continue Using Personal QR Codes

By Sanday Chongo Kabange | 27/02/2022

Rules issued last October were about to take effect that would have prohibited merchants from using personal QR codes to receive payments from 1 March.