AML / KYC

Crypto / Digital Assets

NY Fed Assesses Effectiveness of Tornado Cash Sanctions

By Editors | 11/08/2024

The study found that non-cooperation with the Tornado Cash sanctions was not monetarily driven, but instead motivated by “philosophical reasons”.

AML / KYC

Four Arrested by HK Customs in HK$1.5b Money Laundering Case

By Editors | 10/08/2024

The arrestees allegedly used 39 bank accounts, six shell companies and cryptocurrency to launder crime proceeds from across the APAC region.

Enforcement

US Man Arrested for Facilitating DPRK Remote IT Worker Fraud

By Editors | 10/08/2024

DOJ said Matthew Isaac Knoot enabled North Korean IT workers to work for US and UK companies from locations in China, and laundered money for them.

AML / KYC

Cayman Islands: New Beneficial Ownership Regime Commences

By Editors | 09/08/2024

Beneficial ownership information will not yet be available to the public in light of the November 2022 ruling by the European Court of Justice.

AML / KYC

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

By Sanday Chongo Kabange | 09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Crypto / Digital Assets

Singapore Court Sentences Crypto CTO for Investment Scam

By Ranamita Chakraborty | 09/08/2024

Wang Xinghong developed a crypto mining app that allowed A&A Blockchain to input fake numbers to misrepresent investor returns.

Crypto / Digital Assets

India Has “No Proposal” to Regulate Crypto Beyond Tax, AML

By Ajoy K Das | 09/08/2024

MOF official told Parliament the government will coordinate with global standard-setting bodies before considering any measures domestically.

AML / KYC

German Prosecutors Charge Two More Ex-Wirecard Execs

By Ranamita Chakraborty | 08/08/2024

The two executives allegedly breached their fiduciary duties by approving unsecured loans that were used to embezzle “several hundred million euros”.

AML / KYC

HKMA Issues Circular on Changes to Tax Reporting Jurisdictions

By Sanday Chongo Kabange | 08/08/2024

The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.