AML / KYC

AML / KYC

India’s Adani Group Defends Against Allegations of Swiss Probe

By Ajoy K Das | 17/09/2024

Hindenburg Research says $310mn of Adani Group’s funds have been frozen in Switzerland in connection with a money laundering probe.

AML / KYC

Australia Proposes Bill to Establish Scams Prevention Framework

By Sanday Chongo Kabange | 16/09/2024

The framework creates obligations for banks, telcos and tech giants to prevent, detect, report, disrupt, and respond to scams.

AML / KYC

Korea Offering Rewards for Self-Reporting of Fraud Crimes

By Editors | 13/09/2024

The National Police Agency said those who self-report fraud crimes will be considered for more lenient sentencing as well as monetary rewards.

AML / KYC

OFAC Sanctions Cambodian Tycoon for Scam Centre Operations

By Manesh Samtani | 13/09/2024

Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.

AML / KYC

Swedish Court Sentences Former Swedbank CEO to Jail Term

By Nithya Subramanian | 13/09/2024

Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.

AML / KYC

Japan Backs FSB Plan to Streamline Cross-border Payments

By Thisanka Siripala | 12/09/2024

However, the Japanese Bankers Association is calling for incentives to help boost the adoption of LEIs, which are currently costly and complex to implement.

AML / KYC

GCFFC Calls for Better Access to Global Beneficial Ownership Data

By Manesh Samtani | 12/09/2024

In a new report, the GCFFC outlines key considerations for building technological systems to standardise the collection and publication of BO data across jurisdictions.

Enforcement

Singapore to Issue First Charges Under New Anti-Scam Laws

By Nithya Subramanian | 12/09/2024

Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

AML / KYC

UK FCA to Update Guidance on Addressing Suspicious Payments

By Manesh Samtani | 12/09/2024

The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.