AML / KYC

AML / KYC

China Shuts Down Cross-border Gambling, Payments Platforms

By Sanday Chongo Kabange | 20/01/2021

The Ministry of Public Security arrested over 75,000 suspects and shut down thousands of online gambling platforms, payment platforms and underground banks in 2020.

AML / KYC

Australian Border Force Disrupts Money Laundering by Drug Cartels

By Editors | 20/01/2021

9 Australian and 7 international banks were used to launder A$500mn in illegal profits from the drug trade between 2014 and 2017.

AML / KYC

GLEIF Enhances LEI Search Engine, Automates Access to LEI Data

By Editors | 19/01/2021

A new API enables third-party developers to automate searches and retrieve higher quality LEI data from within their application environments.

AML / KYC

Lessons Learned From APAC’s Landmark Year of AML Fines

By Payal Patel | 19/01/2021

Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.

AML / KYC

UPDATED: Philippine Senate Approves Amendments to AML Law

By Editors | 19/01/2021

The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

AML / KYC

US Sanctions Six More Chinese, Hong Kong Officials

By Editors | 17/01/2021

The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

AML / KYC

SEBI Proposes New Process for KYC in Securities Market

By Editors | 17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

AML / KYC

PBOC Tripled AML Penalties in 2020 Compared to 2019

By Editors | 13/01/2021

Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.

AML / KYC

Australian Police Make Arrest as Part of Foreign Bribery Probe

By Editors | 12/01/2021

The arrest is part of an investigation by UK, US and Australian authorities into the payment of bribes to officials in Iraq and other countries to secure oil contracts.