AML / KYC

AML / KYC

Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud

By Editors | 28/06/2024

Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.

AML / KYC

Australia Introduces Legislation for SMS Sender ID Register

By Sanday Chongo Kabange | 27/06/2024

The new legislation allows for the establishment of an SMS Sender ID Register to help fight scams.

Sanctions

Iraq’s Al-Huda Bank Cut Off from US Financial System

By Editors | 27/06/2024

FinCEN rule identifies Al-Huda Bank as a “foreign financial institution of primary money laundering concern”.

AML / KYC

US DOJ to Recover Additional $100mn in 1MDB Case

By Nithya Subramanian | 27/06/2024

Jho Low will forfeit a luxury apartment in Paris and artworks by Andy Warhol and Claude Monet purchased for USD 35 million.

AML / KYC

Vietnam Made “Minimal Progress” to Address AML Deficiencies

By Manesh Samtani | 27/06/2024

Vietnam was upgraded on just one recommendation for strengthening its correspondent banking requirements. The country is moved to enhanced follow-up.

AML / KYC

Singapore’s National Asset Recovery Strategy To Enhance AML Regime

By Nithya Subramanian | 27/06/2024

The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.

AML / KYC

New AMLA to Receive EBA’s AML/CFT Powers by End 2025

By Editors | 27/06/2024

The EBA said it will transfer its AML/CFT powers and mandates to the AMLA by the end of December 2025.

Sanctions

OFAC Targets Iranian ‘Shadow Banking’ Network With Sanctions

By Editors | 26/06/2024

The sanctions target 25 companies based in Hong Kong, 13 in UAE, five in Iran, and one each in Türkiye and Marshall Islands.

AML / KYC

Vietnam to Require Biometric Authentication for Money Transfers

By Editors | 26/06/2024

The new regulation also prohibits individuals from buying, selling, renting, leasing, or borrowing transaction accounts.