AML / KYC

Enforcement

Singapore Court Commences Nickel Trading Fraud Trial

By Nithya Subramanian | 28/11/2024

Ng Yu Zhi faces charges of fraudulent trading, cheating, forgery and money laundering. The trial is expected to take over 50 days.

AML / KYC

Taiwan FSC Fines Two Crypto Exchanges for AML Violations

By Mark Johnston | 28/11/2024

FSC investigations found lapses involving CDD, transaction monitoring, record-keeping, and suspicious transaction reporting.

AML / KYC

Wolfsberg Group Defines Key Terms Related to Digital Assets

By Manesh Samtani | 27/11/2024

The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

AML / KYC

UK Government Pushes for Public Beneficial Ownership Registers

By Mark Johnston | 26/11/2024

The UK government has reaffirmed its commitment to establishing fully public beneficial ownership registers.

AML / KYC

Eurojust Establishes Judicial Focus Group to Combat Money Laundering

By Mark Johnston | 26/11/2024

Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

AML / KYC

OJK Announces Soft Launch of Indonesia Anti-Scam Centre

By Mark Johnston | 25/11/2024

The Anti-Scam Centre will improve coordination between FIs and law enforcement agencies, and help protect consumers against fraud and scams.

AML / KYC

Singapore Court Fines Jeweller for Failing to Perform CDD

By Nithya Subramanian | 23/11/2024

The case is Singapore’s first prosecution under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act.

AML / KYC

Australia to Expand National Scheme on Unexplained Wealth

By Thisanka Siripala | 23/11/2024

The government tabled in Parliament its response to an independent review of the ‘National Cooperative Scheme on Unexplained Wealth’.

Crypto / Digital Assets

US Court Jails Operator of Darknet Cryptocurrency Mixer ‘Helix’

By Nithya Subramanian | 21/11/2024

Helix was popular among online drug dealers to launder their illicit proceeds, processing $300m in cryptocurrency transactions between 2014 and 2017.