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AML / KYC
New Singapore Bills Target Money Mules, Singpass Abuse
By Manesh Samtani | 18/04/2023
The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.
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.
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