The platform is designed to help educate the public about cyber crimes in the Metaverse, especially those involving virtual assets.
The expansion would include penalties for failing to report, submitting a report with false information, or failing to implement a due diligence system.
The guidance says money remittance services, banks, DPT service providers, precious stone and metals dealers, and non-profit organisations are vulnerable to TF threats.
One of the entities jointly sanctioned by the US and South Korea employs "thousands" of North Korean IT workers that operate in Russia, China and Laos.
VerifyVASP will be able to help VASP clients obtain an LEI, which can be used in counterparty due diligence and travel rule compliance.
The Entity List, containing over 2,400 entries, appears to have been accidentally replaced with only the most recent 71 additions.
As they embark on the RegTech race, banks cannot ignore frustrated customers.
The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank's head of legal & compliance Lam Chee Kin.
The updated AML/CFT guideline includes a new stand-alone chapter on regulatory requirements and standards for addressing ML/TF risks associated with virtual assets.
Shanghai police have uncovered a scheme involving fraudsters who tipped livestreamers to conceal their illicit funds.
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