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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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