AML / KYC

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    AML / KYC

    Experts Critical of FATF Effectiveness in Combating Kleptocracy

    By Manesh Samtani | 14/06/2023

    Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

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    AML / KYC

    JPMorgan Agrees to Settle Epstein Lawsuit for $290m

    By Editors | 13/06/2023

    JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

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    AML / KYC

    India Accuses Xiaomi and Global Banks of Breaking FX Rules

    By Karen Ng | 13/06/2023

    Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.

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    AML / KYC

    Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

    By Editors | 12/06/2023

    The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.

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    AML / KYC

    Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

    By Manesh Samtani | 12/06/2023

    Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.

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    AML / KYC

    NZ DIA Warns Real Estate Firm for AML Non-compliance

    By Sanday Chongo Kabange | 09/06/2023

    The warning is the second the DIA has issued to a real estate agent since the AML/CFT Act began applying to real estate agents in 2019.

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    AML / KYC

    Ukraine Calls on FATF to Add Russia to Blacklist

    By Manesh Samtani | 09/06/2023

    Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.

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    Fintech / Regtech

    In Global First, UK to Require Banks to Reimburse Fraud Losses

    By Karen Ng | 08/06/2023

    The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.

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    AML / KYC

    HKMA, Cyberport Concludes Fourth AML Regtech Lab

    By Karen Ng | 08/06/2023

    The HKMA said it aims to have all retail banks taking a “consistent, coordinated approach to real-time fraud monitoring” by September 2023.

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    Enforcement

    INTERPOL Issues Global Alert on Human Trafficking-Fueled Online Fraud

    By Mark Johnston | 07/06/2023

    INTERPOL warns of a “double-edged crime threat” that exploits victims of human trafficking as well as those forced to perpetrate online fraud.

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