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AML / KYC
Crypto / Digital Assets
Russia Re-rated on Four FATF Recommendations
By Editors | 04/03/2024
Russia was upgraded on R.6, R.7, and R.25, and downgraded on R.15 because digital currency activities are largely unregulated.
AML / KYC
Illicit Crypto Funds Flow Into Sanctioned Entities and Jurisdictions: Report
By Nithya Subramanian | 01/03/2024
Chainalysis said that entities in heavily sanctioned jurisdictions lack access to traditional financial systems and are attempting to use crypto to evade sanctions.
AML / KYC
“Money Lock” is Effective in Scam Protection: Singapore Minister
By Nithya Subramanian | 01/03/2024
Minister Alvin Tan said there have been no scam reports involving funds under Money Lock, and that other banks will roll out the feature by mid-2024.
AML / KYC
NZ Minister Demands Immediate Action from Banks on Scams
By Editors | 29/02/2024
Confirmation of payee system to be established, Code of Banking Practice to be updated; voluntary reimbursement scheme to be investigated.
AML / KYC
Philippines: FIs That Deal with Unregistered DNFBPs Will Face Penalties
By Sanday Chongo Kabange | 29/02/2024
The AMLC said covered persons can only conduct business dealing with DNFBPs if they have valid registration certificates.
AML / KYC
Hong Kong Concludes First International Anti-Corruption Training
By Sanday Chongo Kabange | 29/02/2024
The training programme, co-organised by the ICAC and UNODC, brought together participants from 19 jurisdictions.
AML / KYC
Singapore Issues First Designation Under Foreign Interference Law
By Manesh Samtani | 28/02/2024
Businessman Philip Chan was designated as a “politically significant person” for his “susceptibility to be influenced by foreign actors.”
AML / KYC
India Forms Committee to Re-examine KYC Practices
By Ajoy K Das | 28/02/2024
An expert committee led by the finance secretary will examine KYC norms and make recommendations to the government.
AML / KYC
Singapore and Malaysia Join Forces to Combat Telecom Scams
By Ranamita Chakraborty | 28/02/2024
Both countries have signed an MoU to provide regulatory assistance and cooperation related to scam telephone calls and text messages.
AML / KYC
FATF Consults on R.16 Changes to Improve Payment Transparency
By Manesh Samtani | 27/02/2024
The revisions would help guard against fraud by requiring beneficiary FIs to check the alignment of beneficiary information in payment messages.
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