AML / KYC

AML / KYC

Sri Lanka Sign New MoUs to Help Combat Illicit Finance

By Ajoy K Das | 19/06/2024

Sri Lanka’s FIU signed two new information exchange agreements, one with the bribery commission and the other with its counterpart in Bahrain.

AML / KYC

Australia NASC Joins Anti-Scam Intelligence Sharing Platform

By Sanday Chongo Kabange | 19/06/2024

The NASC will be able to share and receive more intelligence such as scam phone numbers, URLs, and bank accounts and use it to protect more Australians.

AML / KYC

US Uncovers Drug Cartel Alliance With Chinese Money Launderers

By Editors | 19/06/2024

US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

AML / KYC

HSBC Breached AML Obligations in Switzerland: FINMA

By Manesh Samtani | 19/06/2024

HSBC’s Swiss private banking unit is prohibited from onboarding new PEPs until an auditor has confirmed its compliance with FINMA’s orders.

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

By Editors | 19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Enforcement

Asian Police Bust Multi-Jurisdiction Malware Scam Syndicate

By Sanday Chongo Kabange | 18/06/2024

Police in Hong Kong, Singapore, Malaysia and Taiwan jointly targeted a group involved in malware-enabled scams.

AML / KYC

Japan to Tighten AML Controls to Target Organised Crime

By Manesh Samtani | 18/06/2024

Prompted by a $444mn money laundering case, Japanese regulators will ask banks to do more to detect criminal abuse of accounts.

AML / KYC

RUSI Identifies Typologies of Abuse of FATF Standards

By Manesh Samtani | 17/06/2024

RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.

AML / KYC

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

By Editors | 17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.