AML / KYC

Most Kyrgyz Banks Have Suspended Money Transfers to Russia

By Editors | 25/08/2024

13 of 16 Kyrgyz banks have halted transfers to Russian lenders via their mobile apps. The central bank said this is to “prevent the negative impact of international sanctions”.

AML / KYC

TD Bank Provisions Additional $2.6b for Expected AML Penalties

By Editors | 25/08/2024

TD Bank said a global resolution of investigations by prudential regulators, FinCEN and the DOJ is expected by year-end.

AML / KYC

Korean Financial Institutions Launch Credit Transaction Blocking Service

By Editors | 24/08/2024

Consumers can register for a financial system-wide block on credit transactions to protect their accounts from being used for fraudulent loans.

AML / KYC

Indian Telco Ordered to Pay Compensation for SIM Swap Fraud

By Ajoy K Das | 23/08/2024

Airtel issued a duplicate SIM card without verification, resulting in fraudulent withdrawals in May 2017, and then challenged a July 2018 compensation order and lost.

AML / KYC

Singapore CPF Lowers Online Withdrawal Limit to Deter Scammers

By Nithya Subramanian | 23/08/2024

The maximum online daily withdrawal limit will be reduced from S$200,000 to S$50,000 to introduce more friction against scams.

Enforcement

Singapore Considers Granting Police More Powers to Block Scams

By Nithya Subramanian | 23/08/2024

The police will be able to block banking transactions if there is “reasonable belief” that victims will transfer money to scammers.

AML / KYC

Nevada Regulator Files Suit Against Subsidiary of Malaysia’s Genting

By Nithya Subramanian | 23/08/2024

The regulator accused Resorts World Las Vegas, a subsidiary of Malaysia’s Genting Berhad, of permitting bets by individuals tied to organised crime.

AML / KYC

Hong Kong, Macao Authorities Arrest Seven in Joint Operation

By Sanday Chongo Kabange | 23/08/2024

The SFC, ICAC and the Macao Judiciary Police arrested seven individuals for suspected fraud, including the chairman of a listed company.

AML / KYC

Binance and Macau Police Launch Campaign to Combat Scams

By Editors | 23/08/2024

Binance has partnered with the Macau Judiciary Police to launch an anti-scam campaign, aiming to protect users from the risk of fraud in the digital space.

Securities / Derivatives

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

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