AML / KYC

Korea to Develop AI Service to Counter Voice Phishing Scams

By Manesh Samtani | 04/06/2024

Authorities have agreed to share de-identified call data with private companies for use in developing AI services to prevent voice phishing scams.

Fintech / Regtech

CBA, JPM to Pilot Cross-border Bank Account Validation

By Nithya Subramanian | 04/06/2024

CBA’s pilot involves the sharing of limited payee account data through its NameCheck technology on JP Morgan’s Liink network.

AML / KYC

Hong Kong Court Jails Ex-BEA Manager for Bribery Offences

By Sanday Chongo Kabange | 04/06/2024

The former senior relationship manager accepted bribes to help intermediary companies open BEA accounts for their clients.

AML / KYC

Japan’s AML Landscape and the Need for Effective Governance

By Bradley Maclean | 03/06/2024

Former regulator and AML subject matter expert Hiroshi Ozaki discusses Japan’s financial crime threat landscape and how firms can mitigate risk through effective governance.

AML / KYC

APAC FIUs Launches Regional Intelligence Sharing Platform

By Sanday Chongo Kabange | 03/06/2024

The new platform will allow for real-time sharing of information, case studies and technologies among Australasian and ASEAN FIUs.

AML / KYC

Tokenisation Will Improve Correspondent Banking Model: BIS Paper

By Manesh Samtani | 01/06/2024

The next generation of correspondent banking will make “previously closed corridors economically viable once again”.

AML / KYC

Singapore Hands Down 8th Sentence in Money Laundering Case

By Nithya Subramanian | 31/05/2024

Chinese national Lin Baoying has been sentenced to 15 months in jail and will forfeit 90% of the S$170.5mn of assets seized from her.

AML / KYC

Switzerland Fines UBS for Yemen-Linked AML Failures

By Editors | 31/05/2024

The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

AML / KYC

Swift Announces Industry Partnership to Combat Fraud With AI

By Editors | 31/05/2024

FIs will share data with privacy-preserving controls so that AI can be used to detect fraud patterns from a “much richer dataset”.

AML / KYC

European Council Adopts New AML Regulatory Package

By Nithya Subramanian | 31/05/2024

This is the final step of the adoption procedure. The texts will now be published in the EU’s Official Journal and enter into force.

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