AML / KYC

AML / KYC

FATF Publishes Updated Procedures for Mutual Evaluations

By Editors | 17/05/2024

FATF will prioritise countries whose assessments are most outdated, that face higher risks and have important financial sectors.

AML / KYC

AUSTRAC, SkyCity Propose A$67m Settlement to Court

By Editors | 17/05/2024

A hearing date has been set for 7 June 2024 for the court to consider the settlement jointly proposed by AUSTRAC and SkyCity Adelaide.

AML / KYC

Australia’s Digital ID Bill Passes House of Representatives

By Mark Johnston | 16/05/2024

The scheme will soon extend to state and territory governments, with the private sector to follow within two years.

AML / KYC

Malaysia Taking Steps to Enhance AML/CFT Regime

By Editors | 16/05/2024

Malaysian laws are being reviewed to address “gaps and implementation issues” and “elevate beneficial ownership reporting”.

AML / KYC

Chinese Authorities Arrest Six in Crypto Money Laundering Scheme

By Nithya Subramanian | 16/05/2024

The suspects were involved in laundering CNY 2.14 billion through crypto transactions to South Korea.

AML / KYC

FinCEN, SEC Propose AML Rule for Investment Advisers

By Editors | 16/05/2024

The rule, if adopted, would require investment advisers to implement procedures for verifying the identity of each customer.

AML / KYC

SEBI Eases KYC Norms for Mutual Fund Investors

By Ajoy K Das | 15/05/2024

SEBI will allow investors to obtain a ‘KYC-Registered’ status even if their PAN and Aadhaar accounts are not linked.

AML / KYC

Singapore Makes Sixth Conviction in Money Laundering Case

By Nithya Subramanian | 15/05/2024

Turkish national Vang Shuiming was sentenced to “13 months and six weeks” imprisonment and required to forfeit S$179mn in assets.

AML / KYC

FATF, UNODC, INTERPOL Issue Joint Call to Action

By Editors | 14/05/2024

Countries are asked to step up their efforts to target the illicit profits generated by transnational organised crime.