AML / KYC

AML / KYC

Singapore Police Raid ZenRock Following HSBC Allegations of Fraud

By Editors | 10/05/2020

Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.

AML / KYC

Australian Police Launch Probe into Super Fund Early Release Fraud

By Editors | 07/05/2020

Five search warrants have so far been executed in relation to the fraud, and bank accounts containing AUD 120,000 in stolen super money have so far been frozen.

AML / KYC

Requirement to Lodge Company Controller Data with ACRA Deferred

By Editors | 06/05/2020

ACRA says the two-month deferral is the result of operational and resource constraints faced by registered filing agents, and potential difficulties obtaining consent from clients.

AML / KYC

FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks

By Editors | 05/05/2020

FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.

AML / KYC

US Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt

By Nick Turner | 05/05/2020

US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.

AML / KYC

Westpac Internal Probes Identify More AML Breaches

By Editors | 04/05/2020

Westpac has identified an estimated 60,000 to 90,000 threshold transaction reports that were not reported to AUSTRAC, and potential problems with its FATCA and CRS compliance.

AML / KYC

BSP Warns of Covid-19 related Money Laundering Risks

By Editors | 01/05/2020

Supervised financial institutions are encouraged to prudently leverage on technology to reinforce their controls against fraud and financial crime.

AML / KYC

FATF Postpones Mutual Evaluations, Follow-up Deadlines

By Editors | 29/04/2020

All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.

AML / KYC

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

By Editors | 29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.