AML / KYC

AML / KYC

India, US Pledge to Cooperate on Global Illicit Finance Risks

By Editors | 17/12/2023

Key topics of the joint India-US AML/CFT Dialogue were virtual assets, sanctions implementation, and beneficial ownership transparency.

AML / KYC

HK Amends National Security Law to Facilitate Asset Freezes

By Editors | 15/12/2023

The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.

AML / KYC

US Congress Passes Foreign Extortion Prevention Act

By Editors | 15/12/2023

The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.

AML / KYC

EU Lawmakers Reach Agreement on AMLA Establishment

By Editors | 14/12/2023

Co-rapporteur Eva Maria Poptcheva said the new Anti-Money Laundering Authority will be a “game changer to crack down on dirty money in the EU”.

AML / KYC

RBNZ Issues Formal AML/CFT Warning to Citibank

By Sanday Chongo Kabange | 14/12/2023

Citibank NZ failed to pass on the identities of the originators of 64,000 wire transfers between 2017 and 2022.

AML / KYC

CBA, Vodafone Announce Scam Intelligence Sharing Partnership

By Sanday Chongo Kabange | 13/12/2023

CBA and Vodafone are sharing intelligence on SMS scams to help disrupt, detect and block fraudulent payments.

AML / KYC

AUSTRAC Announces Regulatory Priorities for 2024

By Editors | 13/12/2023

AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

AML / KYC

Korea Seeking Expanded Powers to Freeze Bank Accounts

By Editors | 13/12/2023

Authorities can already freeze accounts linked to voice phishing scams. Prosecutors are looking to expand this to target gambling and drug crime.

AML / KYC

CSRC Proposes Tougher Rules for Private Investment Funds

By Editors | 12/12/2023

Qualified investors in PE and VC funds would have to invest at least CNY 3 million, three times the current threshold.