AML / KYC

AML / KYC

Japan: Sony Life Employee Embezzles $155m While Working Remotely

By Sanday Chongo Kabange | 09/12/2021

The Sony Life Insurance employee allegedly embezzled $155mn while working on liquidating the reinsurer’s assets after it closed.

AML / KYC

FinCEN to Tighten Rules on Beneficial Ownership, Real Estate Deals

By Manesh Samtani | 09/12/2021

The proposed rules are aimed at protecting the US financial system from money laundering enabled by shell companies and all-cash real estate deals.

AML / KYC

NZ FMA Risk Assessment Finds VASPs Sector ‘High Risk’

By Sanday Chongo Kabange | 07/12/2021

The FMA’s sector risk assessment for 2021 says VASPs, derivatives issuers and online investment platforms could be targeted by money launderers.

AML / KYC

CBSL to Prosecute Remittances via Informal Channels Under AML Law

By Duruthu E Chandrasekera | 07/12/2021

Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.

AML / KYC

Australian Parliament Approves Magnitsky-style Sanctions Law

By Manesh Samtani | 05/12/2021

The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.

AML / KYC

BNM Unveils Initial Findings of Malaysia National Risk Assessment

By Mark Johnston | 05/12/2021

BNM is using technology to improve its risk-based supervision, intelligence analysis, data science techniques and off-site surveillance.

AML / KYC

Interpol Concludes Global Operation Targeting Wildlife & Timber Crime

By Editors | 05/12/2021

Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.

Enforcement

Billionaire’s Arrest Signals China’s Intent to End Cross-Border Gambling

By Darien Choong | 05/12/2021

Suncity Group’s Alvin Chau allegedly operated a gambling syndicate that used Macau as a base for an illegal “live web betting platform” in the Philippines, targetting customers in mainland China.

AML / KYC

EU Due Diligence Initiative Back in Focus After Delays

By ESG Investor | 01/12/2021

Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.