AML / KYC

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    AML / KYC

    EU Council Formally Adopts New Legal Framework for Crypto

    By Sanday Chongo Kabange | 17/05/2023

    New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.

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    AML / KYC

    EU Enters Trilogue Discussions on Proposed New AML Authority

    By Mark Johnston | 17/05/2023

    The new Anti-Money Laundering Authority would directly supervise high-risk financial entities and coordinate national authorities and FIUs.

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    AML / KYC

    Australia: New Cross-Industry Code to Require Banks to Reimburse Scam Victims

    By Editors | 16/05/2023

    The code will be enforceable and set clear expectations on the obligations of banks, telcos and social media platforms.

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    AML / KYC

    Indian Authorities Investigating Three ‘Top Brokers’ – Reports

    By Editors | 16/05/2023

    Three top brokers, who were not named, were found to be engaged in “large-scale money laundering activities” with the involvement of PEPs.

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    AML / KYC

    IMF Offers New Guidance on Combatting Terrorism Financing

    By Editors | 16/05/2023

    New downloadable book presents contributions by experts from the IMF, UN, Egmont Group, INTERPOL, and Europol.

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    AML / KYC

    Australian Banks Launch New Fraud Reporting Platform

    By Editors | 16/05/2023

    The platform streamlines communications so banks can alert each other in real time when funds have been sent to a suspected scammer’s account.

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    AML / KYC

    The Financial Action Task Force’s Challenge with Russia

    By Fatima Alsancak | 15/05/2023

    RUSI’s Fatima Alsancak says the FATF should consider Russia’s invasion of Ukraine as an impetus to update its standards and country assessment process to address corruption.

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    Capital / Liquidity

    G7 Leaders Pledge to Maintain Resilience of Global Financial System

    By Editors | 15/05/2023

    The G7 communique vows stepped-up sanctions enforcement, and readiness to act on financial stability, climate change, and crypto-asset activities.

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    AML / KYC

    US SEC Fines Philips for Corrupt Practices in China

    By Editors | 14/05/2023

    Dutch medical supplier engaged in “improper” conduct and bidding practices to sell its medical technology products in China.

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    AML / KYC

    Philippine AMLC Issues New Sanctions Screening Guidance

    By Editors | 13/05/2023

    An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.

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