AML / KYC

AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

By Editors | 27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

AML / KYC

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

By Editors | 27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

AML / KYC

Philippine SEC Stresses Need for CDD on DNFBP Clients

By Sanday Chongo Kabange | 26/09/2023

Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

AML / KYC

HKMA Publishes Cases Studies on Regtech Adoption for AML/CFT

By Editors | 26/09/2023

The report features examples of Regtech implementation for fraud monitoring, TM alerts handling, media monitoring, and customer risk monitoring.

AML / KYC

US SEC Settles ESG Misstatements and AML Cases Against DWS

By Manesh Samtani | 26/09/2023

DWS said it stands by the ESG statements made in its financial disclosures and fund prospectuses and has already taken steps to address weaknesses.

Enforcement

Singapore Banks Ramp Up Scrutiny of Risky Customers – Reports

By Mark Johnston | 25/09/2023

Singapore banks are red-flagging, reviewing, restricting and/or closing accounts of customers from China, Vanuatu, Dominica, Cyprus, Cambodia, Turkey, and St Kitts and Nevis.

AML / KYC

Assets Involved in Singapore Money Laundering Case Reach S$2.4 Billion

By Editors | 22/09/2023

Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.

Crypto / Digital Assets

SFC Confirms Crypto Firm JPEX Never Approached it About Licensing

By Sanday Chongo Kabange | 22/09/2023

JPEX breached the SFO and AMLO by publishing confidential correspondence with the SFC. Three more arrests have been made.

AML / KYC

FATF, INTERPOL Host Second Ever Joint Engagement on Asset Recovery

By Manesh Samtani | 21/09/2023

FATF president T Raja Kumar said there needs to be a major mindset and culture shift to focus on asset recovery as a national law enforcement priority.