AML / KYC

AML / KYC

Australia Jails Sydney Man for Breaching North Korea Sanctions

By Manesh Samtani | 28/07/2021

The AFP uncovered evidence that the man was generating income for North Korea’s government by facilitating the transfer of various commodities to and from the country.

AML / KYC

MAS to Review Liability Framework for Card Scams by Year-end

By Ranamita Chakraborty | 27/07/2021

The Singapore police received 89 reports of fraudulent card transactions performed with SMS OTPs between September 2020 and February 2021.

AML / KYC

HKMA Issues Guide for Regtech Adoption in Customer Monitoring

By Manesh Samtani | 27/07/2021

The Guide will help banks assess whether they have the appropriate governance, controls, skills, infrastructure and underlying data to adopt Regtech solutions in ongoing monitoring of customers.

AML / KYC

Singapore: “Several” DPT Licences in Final Stages of Review

By Editors | 27/07/2021

Of around 170 digital payment token service providers who applied for a licence, 30 applications have been withdrawn after engagement with MAS and two have been rejected.

AML / KYC

SFC Calls on Industry to Report Suspected Ramp-and-dump Activity

By Manesh Samtani | 26/07/2021

Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.

AML / KYC

Taiwan FSC Fines Taishin Int’l Bank for Oversight Failures

By Editors | 26/07/2021

A Taishin customer relationship manager stole TWD 347 million from nine customers over more than a decade by asking them to sign blank transfer forms.

AML / KYC

China Names First Targets of Anti-Foreign Sanctions Law

By Editors | 25/07/2021

China has sanctioned former US Secretary of Commerce Wilbur Ross, 5 other individuals, and a nonprofit organisation.

AML / KYC

KoFIU Notifies Foreign VASPs of Their Obligation to Register

By Manesh Samtani | 23/07/2021

Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.

AML / KYC

European Commission Presents Package of AML/CFT Reforms

By Editors | 23/07/2021

A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.