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AML / KYC
Enforcement
Korea Dismantles Mobile Smishing Crime Organisation in Vietnam
By Editors | 24/09/2024
Seven key members of the organisation, including the ringleader, were apprehended. Three have since been repatriated to South Korea.
AML / KYC
Japanese Crime Bosses Had Singapore Connection – Report
By Nithya Subramanian | 23/09/2024
Three leaders of the Rivaton Group, which allegedly laundered funds for criminal groups, resided in and were directors of companies in Singapore.
Enforcement
Danske Bank Settles French Money Laundering Probe
By Mark Johnston | 23/09/2024
Danske Bank will pay €6.33mn to settle a probe by French authorities into the bank’s now-shuttered Estonian operations.
AML / KYC
Singapore FIU Seeks Information on Bangladeshi Conglomerate
By Nithya Subramanian | 20/09/2024
The STRO asked the BFIU to provide details on S Alam Group, a Bangladeshi conglomerate that is suspected of money laundering.
AML / KYC
German Authorities Shut Down 47 Cryptocurrency Exchanges
By Nithya Subramanian | 20/09/2024
The crypto exchanges did not carry out identity and background checks on customers and allowed them to conduct financial transactions anonymously.
AML / KYC
FATF Publishes Mutual Evaluation Report on India
By Manesh Samtani | 20/09/2024
The report says India is achieving good results, but that it needs to address domestic PEPs, risks in the NPO sector, and a backlog of court cases.
AML / KYC
FINMA Confiscates $15m from Private Bank Mirabaud for AML Failures
By Nithya Subramanian | 19/09/2024
FINMA barred the bank from accepting high-risk clients and ordered it to overhaul its risk management, internal controls, and corporate governance.
Fintech / Regtech
Singapore Banks to Roll Out Singpass Face Verification for Scam Protection
By Nithya Subramanian | 19/09/2024
MAS said that the feature will be rolled out over the next three months to strengthen digital token security and safeguard customers from scams.
AML / KYC
Europol Leads Takedown of Messaging Platform Used by Criminals
By Manesh Samtani | 19/09/2024
A total 51 suspects have been arrested, including 38 in Australia, where the platform’s mastermind was located and a drug lab was dismantled.
AML / KYC
AUSTRAC Encouraging Flexibility for Customers Without Standard ID
By Thisanka Siripala | 19/09/2024
AUSTRAC clarifies that alternative identification procedures are encouraged when customers cannot easily obtain or access standard forms of ID.
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