AML / KYC

AML / KYC

Ukraine Calls on FATF to Add Russia to Blacklist

By Manesh Samtani | 09/06/2023

Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.

Fintech / Regtech

In Global First, UK to Require Banks to Reimburse Fraud Losses

By Karen Ng | 08/06/2023

The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.

AML / KYC

HKMA, Cyberport Concludes Fourth AML Regtech Lab

By Karen Ng | 08/06/2023

The HKMA said it aims to have all retail banks taking a “consistent, coordinated approach to real-time fraud monitoring” by September 2023.

Enforcement

INTERPOL Issues Global Alert on Human Trafficking-Fueled Online Fraud

By Mark Johnston | 07/06/2023

INTERPOL warns of a “double-edged crime threat” that exploits victims of human trafficking as well as those forced to perpetrate online fraud.

AML / KYC

NZ DIA Lists Common Areas of AML Non-Compliance at DNFBPs

By Sanday Chongo Kabange | 07/06/2023

Common areas of non-compliance were identified from a review of 60 law firms, accounting practices and real estate agents.

AML / KYC

SFC Issues Guidance on Crypto Licensing Transitional Arrangements

By Manesh Samtani | 05/06/2023

Crypto firms with “meaningful and substantial presence” in Hong Kong prior to 1 June 2023 can continue to provide services.

AML / KYC

FIs Must ‘Strictly’ Perform CDD on DNFBP Clients, BSP Says

By Sanday Chongo Kabange | 04/06/2023

CDD includes identifying and verifying the true identities and beneficial owners of DNFBP clients such as lawyers, accountants and real estate developers.

AML / KYC

EU, Canada Sanction Moldova Nationals for ‘Destabilising’ Activities

By Manesh Samtani | 04/06/2023

Four individuals are on both sanctions lists for supporting a Russian plan to overthrow the Moldovan government.

AML / KYC

EU Officials Formally Sign MiCA Into Law

By Sanday Chongo Kabange | 02/06/2023

The MiCA legislation was signed into law on Wednesday by European Parliament president Roberta Metsola and Swedish minister Peter Kullgren.