AML / KYC

AML / KYC

OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

By Editors | 20/02/2021

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

AML / KYC

Australian Banks Facilitate Arrest of Phishing Tool Developer

By Ranamita Chakraborty | 19/02/2021

The developer of a phishing kit used to steal tens of millions of dollars from bank accounts in 11 countries has been arrested in Ukraine.

AML / KYC

FSC Korea Proposes Additional Rule Changes for VASPs

By Editors | 18/02/2021

The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.

AML / KYC

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

AML / KYC

Ant Group Undeclared Beneficial Owners Caused IPO Suspension

By Editors | 18/02/2021

The Wall Street Journal says Ant Group’s IPO was suspended last year due to its complex ownership structure and an unease over the likely beneficiaries of the listing.

AML / KYC

Bangladesh Launches Online Account Opening for Stock Investors

By Editors | 16/02/2021

The new system will reduce the time it takes for investors to open an account and minimise the number of accounts opened using fake information, BSEC said.

AML / KYC

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

By Manesh Samtani | 16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

AML / KYC

UK Issues Draft Rules to Promote Trust in Digital Identity

By Editors | 15/02/2021

New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.

AML / KYC

GLEIF to Implement New Policies, File Formats in Global LEI System

By Editors | 15/02/2021

Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 31 March 2022, GLEIF said.