Binance reportedly has plans to become a licensed financial institution, with a centralised headquarters, to make it easier to work with regulators.
OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.
Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.
A Kroll survey found that 82% of senior decision-makers for risk strategy felt corruption significantly impacted their organisations in 2020.
The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB's 2010-2012 financial statements.
With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.
Malicious actors gained access to the systems of overseas telecom operators to divert SMS OTPs and authenticate fraudulent card transactions.
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
C4ADS says fraudulent ship registrations created with the IMO are being used to 'launder' the identity of vessels associated with illicit activities.
The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.
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