AML / KYC

Switzerland Fines UBS for Yemen-Linked AML Failures

By Editors | 31/05/2024

The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

AML / KYC

Swift Announces Industry Partnership to Combat Fraud With AI

By Editors | 31/05/2024

FIs will share data with privacy-preserving controls so that AI can be used to detect fraud patterns from a “much richer dataset”.

AML / KYC

European Council Adopts New AML Regulatory Package

By Nithya Subramanian | 31/05/2024

This is the final step of the adoption procedure. The texts will now be published in the EU’s Official Journal and enter into force.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Sportsbet

By Sanday Chongo Kabange | 30/05/2024

The undertaking binds the online betting company to an ongoing remedial action plan to improve its AML/CTF programme.

AML / KYC

Singapore Publishes Environmental Crimes ML Risk Assessment

By Nithya Subramanian | 30/05/2024

Singapore is assessed to be at medium-low risk for money laundering linked to environmental crimes.

AML / KYC

ASIC to Launch New Professional Registers Search in June

By Sanday Chongo Kabange | 30/05/2024

The platform will allow users to search for a licence or registration across multiple registers with a single search.

Crypto / Digital Assets

Authorities Take Down “World’s Largest” Malicious Botnet

By Editors | 30/05/2024

US authorities, with international partners, arrested the botnet’s administrator and seized infrastructure and assets.

AML / KYC

Hong Kong Arrest 20 in Triad-Run Money Laundering Scheme

By Sanday Chongo Kabange | 28/05/2024

The HKPF arrested 20 people for laundering HK$10mn through 17 bank accounts set up by foreign domestic helpers and controlled by triads.

Enforcement

India Tightens Scrutiny of Foreign Beneficial Ownership

By Ajoy K Das | 28/05/2024

India’s Registrar of Companies has already imposed penalties on executives of Microsoft and others for violating beneficial ownership disclosure norms.

AML / KYC

Bursa Malaysia Launches API Gateway to Streamline Onboarding

By Nithya Subramanian | 28/05/2024

The new API Gateway will streamline onboarding and speed up CDS account opening, updating and reactivation.

JOIN OUR NEWSLETTER

A daily selection of top stories from the Regulation Asia editorial team