AML / KYC

AML / KYC

Singapore, HK and Interpol Dismantle Money Laundering Syndicate

By Nithya Subramanian | 19/08/2024

The transnational criminal group based in Hong Kong laundered proceeds from technical support scams in Singapore.

Enforcement

US SEC Fines ATS Operator OTC Link for AML Failings

By Editors | 18/08/2024

OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.

AML / KYC

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

AML / KYC

OJK Indonesia Issues Regulation to Implement Anti-Fraud Strategy

By Manesh Samtani | 17/08/2024

Fraud detection systems must include whistleblowing policies and mechanisms, surprise audits, monitoring, and risk assessments of internal and external parties.

Crypto / Digital Assets

Binance is Registered with Indian FIU, Ending Seven Month Ban

By Ajoy K Das | 16/08/2024

Binance said the registration underscores its commitment to adhering to AML standards and fostering a secure, transparent, and efficient ecosystem.

AML / KYC

Macau to Criminalise Unauthorised Money Exchange in Casinos

By Editors | 15/08/2024

Those offering unauthorised currency exchange services to gamblers inside casinos and their ancillary facilities would face up to five years in prison.

AML / KYC

AFCA Calls on Super Funds to Adopt Anti-Scam Measures

By Editors | 15/08/2024

AFCA’s Heather Gray said more sophisticated scam activity is occurring in superannuation, in line with trends in the banking sector.

AML / KYC

Global Cybercrime Leader Extradited to Face Charges in the US

By Manesh Samtani | 15/08/2024

Maksim Silnikau was responsible for developing and distributing the Reveton and Ransom Cartel ransomware strains, as well as the Angler Exploit Kit.

AML / KYC

Singapore Charges Ex-Bankers in Money Laundering Case

By Nithya Subramanian | 15/08/2024

Former Citibank and Julius Baer relationship managers are accused of forging documents, money laundering and obstructing justice.