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AML / KYC
Singapore Jails Former Bank Officer Over Shell Company Setups
By Editors | 24/10/2022
The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.
Enforcement
Philippine SEC Sets Out Penalties for Disclosure Violations
By Mark Johnston | 24/10/2022
Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
Enforcement
NZ FMA Issues Warnings Against Property Investment Firms
By Editors | 23/10/2022
The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.
AML / KYC
NZ FMA Issues Formal Warning to InvestNow Over AML Failures
By Editors | 22/10/2022
InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
AML / KYC
US Sanctions, Files Criminal Charges Against Russians
By Editors | 21/10/2022
The sanctions target a procurement network supplying technology to Russia. The indictment explains that crypto was used to facilitate the payments.
Enforcement
German Prosecutors Raid Deutsche Offices for “Cum-Ex” Probe
By Editors | 21/10/2022
The Cum-Ex scandal dates back more than a decade. Deutsche Bank is said to be fully cooperating with inspections at its Frankfurt offices.
AML / KYC
INTERPOL Launches First Global Police Metaverse
By Editors | 20/10/2022
INTERPOL Metaverse users can interact with other officers and take training courses. A new expert group will work to secure the metaverse from crime.
AML / KYC
EU to Sanction Iran Over Drone Sales to Russia
By Editors | 20/10/2022
The EU has just imposed sanctions over the way protests in Iran are being handled. The drone transfers to Russia are considered a violation of a UNSC resolution.
Crypto / Digital Assets
US Regulators Probe Failed Crypto Firm Three Arrows Capital
By Editors | 19/10/2022
The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.
AML / KYC
HK Regulator Urges Insurers to Cooperate with ICAC Investigations
By Editors | 18/10/2022
The Insurance Authority asks insurance CEOs to promptly respond to requests to produce evidence for corruption investigations.
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