AML / KYC

AML / KYC

Wolfsberg Group Issues Anti-Bribery & Corruption Guidance

By Editors | 18/04/2023

The Guidance is to help FIs develop and implement compliance programmes to prevent, detect, and report acts of bribery and corruption.

AML / KYC

Australia Saw 80pc YoY Jump in Scam Losses in 2022

By Editors | 18/04/2023

Australians lost more to scams than ever before in 2022. Losses per victim rose by more than 50% to an average of almost A$20,000.

AML / KYC

Australia Revisits ‘Tranche 2’ AML Reforms – Report

By Editors | 17/04/2023

The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.

AML / KYC

Hong Kong Police Bust SIM Card Fraud Ring Linked to Triads

By Mark Johnston | 16/04/2023

The suspects registered SIM cards with fake IDs and sold them to scammers who created social media accounts to lure victims.

AML / KYC

Working Group Formed to Update Crypto’s IVMS101 Standard

By Manesh Samtani | 16/04/2023

The working group will update the IVMS101 standard and develop other standards to create “greater consistency and integrity” within the crypto ecosystem.

AML / KYC

US Sentences Man Who Stole Bitcoin from Silk Road to Prison

By Mark Johnston | 15/04/2023

The DOJ said James Zhong executed a scheme to trick Silk Road’s withdrawal system and steal 50,000 Bitcoin in 2012.

AML / KYC

OFAC Sanctions Chinese Entities in Fentanyl Supply Chain

By Editors | 14/04/2023

The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.

AML / KYC

Taiwan Cabinet Approves Legislation to Bolster Anti-Fraud Effort

By Editors | 14/04/2023

The amendments to three bills include higher penalties for cases of personal data leakage where negligence is found.

AML / KYC

UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China

By Editors | 14/04/2023

Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.