AML / KYC

Crypto / Digital Assets

Nigeria Releases Binance Executive, Drops Money Laundering Charges

By Nithya Subramanian | 24/10/2024

Tigran Gambaryan had been detained since February on money laundering charges, which have now been dropped.

AML / KYC

Singapore Raises Concerns Over Surge in Scams on Telegram

By Nithya Subramanian | 23/10/2024

During the first half of 2024, the number of scam cases reported on Telegram spiked by 137%, said Singapore minister Sun Xueling.

AML / KYC

MAS, ABS Issue Guidance on Conducting AML/CFT Audits

By Nithya Subramanian | 22/10/2024

MAS issued a circular offering guidance for AML/CFT audits at FIs, while the ABS released a best practice paper to enhance audit standards.

AML / KYC

MAS Updates AML/CFT Guidelines to Support COSMIC Initiative

By Editors | 22/10/2024

The Guidelines to Notice 626 and Notice FSM-N02  were revised to align with requirements related to the COSMIC information sharing platform.

Enforcement

SFC Suspends Former Private Banker for Regulatory Breaches

By Editors | 22/10/2024

The former Julius Baer private banker lied about meeting a client face-to-face for account opening and about 14 transactions being unsolicited.

AML / KYC

FATF Due to Consider Adding Russia to Blacklist – Reports

By Editors | 21/10/2024

Ukraine is calling on the FATF to blacklist Russia, citing its close financial and military cooperation with UN-sanctioned North Korea and Iran.

AML / KYC

FATF Announces Changes to Grey-Listing Mechanism

By Manesh Samtani | 18/10/2024

The changes are expected to halve the number of lower income countries that are grey-listed in the upcoming assessment cycle.

AML / KYC

HKMA to “Soon” Consult on Scam Loss Sharing Framework

By Editors | 30/09/2024

The framework will include principles for banks to use when deciding whether scam losses should be compensated, such as whether customers took care to safeguard their personal data.

AML / KYC

Australian Super Fund Body Launches Financial Crime Protection Initiative

By Thisanka Siripala | 29/09/2024

The ASFA initiative aims to enhance collaboration between super funds and service providers to combat cybercrime and fraud.