AML / KYC

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    AML / KYC

    Alternative Fund Managers Face Growing AML Risks: Study

    By Ranamita Chakraborty | 22/02/2024

    Several alternative fund firms faced AML fines and few were visited by regulators over money laundering concerns.

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    Crypto / Digital Assets

    Cybercrime Group LockBit Has Been Dismantled

    By Manesh Samtani | 21/02/2024

    Law enforcement from ten countries have disrupted the criminal operation of the LockBit ransomware group.

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    AML / KYC

    India to Centralise FATCA, CRS Certifications at KYC Registration Agencies

    By Ajoy K Das | 21/02/2024

    RFIs are directed to upload certifications under FATCA and CRS received from clients directly into the KRA system.

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    AML / KYC

    CBA Becomes First Australia-based LEI Validation Agent

    By Editors | 21/02/2024

    CBA can now obtain and maintain LEIs for clients leveraging its ‘business-as-usual’ KYC and onboarding processes.

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    AML / KYC

    Australia to “Shortly” Issue New Consultation on Tranche 2 AML Reforms

    By Manesh Samtani | 20/02/2024

    Officials said feedback to last year’s consultation was “very supportive” and the upcoming consultation will be more detailed.

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    AML / KYC

    Singapore Scam Cases Skyrocket by 46.8% in 2023: SPF

    By Ranamita Chakraborty | 19/02/2024

    Singapore Police reported a nearly 50% year-on-year increase in scam cases for 2023, though a slight reduction in losses.

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    AML / KYC

    Seven Arrested in Hong Kong’s Largest Ever Money Laundering Case

    By Sanday Chongo Kabange | 19/02/2024

    The case involves a total of about HK$14 billion of suspected crime proceeds. HK$185 million in assets has so far been frozen or seized.

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    AML / KYC

    SkyCity Facing NZ Court Proceedings for Alleged AML Failures

    By Sanday Chongo Kabange | 19/02/2024

    The DIA alleges that SkyCity did not meet various obligations required under the AML/CFT Act.

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    Enforcement

    BaFin Warns Deutsche Bank Over Transaction Monitoring Systems

    By Mark Johnston | 19/02/2024

    The mandate of a special monitor appointed in 2018 is being extended until end-October to oversee efforts to enhance the bank’s systems for processing transaction data.

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    AML / KYC

    RBI Directs Card Networks to Stop Facilitating Certain B2B Payments

    By Ajoy K Das | 19/02/2024

    Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.

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