AML / KYC

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    Crypto / Digital Assets

    Indian Court Orders Takedown of Scam Crypto Websites

    By Ajoy K Das | 03/09/2024

    The order was granted after crypto firm Mudrex filed legal action to stop investors being scammed by websites using its name and brand.

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    AML / KYC

    Thai Banks Have Fully Implement Anti-Money Mule Measures: BOT

    By Nithya Subramanian | 02/09/2024

    The measures include sharing information through the Central Fraud Registry and blocking high-risk customers from opening accounts.

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    AML / KYC

    HKMA Fines WeChat Pay for AML Control Deficiencies

    By Sanday Chongo Kabange | 02/09/2024

    WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

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    Enforcement

    China Extradites Crime Syndicate Ringleaders to South Korea

    By Editors | 01/09/2024

    The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

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    Enforcement

    UK Jails Members of Chinese Money Laundering Group

    By Editors | 31/08/2024

    A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

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    Enforcement

    Singapore Designates Wildlife Trade as Serious Criminal Offences

    By Nithya Subramanian | 30/08/2024

    Wildlife trading will now be punishable in Singapore under the Organised Crime Act with up to 20 years imprisonment.

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    Crypto / Digital Assets

    BCBS Paper Warns of Risks in Permissionless DLT Systems

    By Manesh Samtani | 30/08/2024

    New working paper describes the risks associated with permissionless DLT, highlighting the need for banks to adopt robust risk management strategies.

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    AML / KYC

    FinCEN Finalises AML Rules for Investment Advisers, Real Estate

    By Manesh Samtani | 30/08/2024

    Based on feedback to the February proposals, the final rules walk back certain measures to reduce potential burdens on businesses.

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    AML / KYC

    NYDFS Fines Nordea Bank $35mn for AML Failures

    By Editors | 29/08/2024

    NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

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    AML / KYC

    Europol, New Zealand Can Share Personal Data to Combat Crime

    By Ranamita Chakraborty | 29/08/2024

    A new agreement has entered into force that allows Europol and New Zealand authorities to exchange personal data to combat crime.

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