AML / KYC

AML / KYC

ASIC Has Shut Over 7,300 Scam Websites in One Year

By Sanday Chongo Kabange | 20/08/2024

Since July 2023, ASIC has taken down over 5,530 fake investment platform scams, 1,065 phishing scam hyperlinks and 615 crypto investment scams.

AML / KYC

Singapore, Malaysia Dismantle Money Laundering Syndicate

By Nithya Subramanian | 20/08/2024

Malaysian police arrested 12 individuals for suspected money laundering using Singapore bank accounts. One of the individuals was charged in Singapore this week.

AML / KYC

China’s Top Court Issues Guidelines on Money Laundering Cases

By Manesh Samtani | 19/08/2024

Concealment or disguise of criminal proceeds, including through the use of virtual assets, will be punished as money laundering offences.

AML / KYC

Hong Kong Court Sets Precedent for Crypto Transparency

By Manesh Samtani | 19/08/2024

The court ordered defendants in a crypto fraud and mismanagement case to provide detailed information about their holdings and transactions.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

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.