AML / KYC

AML / KYC

Singapore Court Charges Ex-Filing Agent in $3b Money Laundering Case

By Nithya Subramanian | 23/01/2025

Former CSP director charged for falsifying company accounts, making false representations to authorities, and forging documents to cheat FIs.

Fintech / Regtech

RBI Directs FIs to Implement Safeguards Against Fraud

By Nithya Subramanian | 22/01/2025

The RBI asked banks and other financial institutions to strengthen safeguards against fraud involving mobile numbers

AML / KYC

Japan FSA Offers Guidance on Validating AML Effectiveness

By Thisanka Siripala | 22/01/2025

New discussion paper emphasises the importance of continuous validation to ensure AML/CFT measures remain effective against evolving risks

AML / KYC

US Recovers Additional $20m in 1MDB Corruption Probe

By Nithya Subramanian | 21/01/2025

The recovery involves funds that were embezzled from 1MDB and paid to companies owned by a US businessman

Crypto / Digital Assets

Illicit Activity in Crypto is Decreasing, TRM Labs Finds

By Thisanka Siripala | 20/01/2025

Illicit activity in crypto decreased in 2024 as a proportion of total transactions, but ransomware, fraud, and sanctions related threats continue to persist

AML / KYC

UK Minister Resigns Over Ties to Ousted Bangladesh PM

By Nithya Subramanian | 20/01/2025

Tulip Siddiq denied any wrongdoing but said she was resigning because her position was “likely to be a distraction from the work of the government”.

Enforcement

Upbit Facing Potential Business Restrictions for AML Noncompliance

By Mark Johnston | 19/01/2025

South Korea’s largest cryptocurrency exchange is facing restrictions on conducting business with new customers for up to three months

AML / KYC

UK, China Agree to Deepen Capital Markets Cooperation

By Manesh Samtani | 18/01/2025

The two sides agreed to enhance the UK-China Stock Connect and explore ETF and Wealth Connect schemes. The UK will also form a task force to support China capital market reforms.

AML / KYC

Belgian Regulator Probes ING Over for Alleged AML Violations

By Nithya Subramanian | 17/01/2025

ING Bank allegedly delayed reporting suspicious financial activities linked to former European Commissioner Didier Reynders.