AML / KYC

    Crypto / Digital Assets

    US Agents Seized Over $3.3bn in Silk Road’s Bitcoin Last Year: DOJ

    By Editors | 08/11/2022

    Over 50,000 Bitcoin, stolen from online marketplace Silk Road in 2012, was seized in November 2021 and has since lost more than two-thirds of its value.

    AML / KYC

    Australia Consults on New Beneficial Ownership Disclosure Regime

    By Manesh Samtani | 08/11/2022

    The first phase will require specified entities regulated under the Corporations Act to maintain accurate, up‑to‑date and publicly accessible beneficial ownership registers.

    AML / KYC

    IFSCA Issues AML/CFT Guidelines for GIFT City Regulated Entities

    By Editors | 07/11/2022

    The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.

    AML / KYC

    China Investigates Top PBOC Official for Possible Corruption

    By Editors | 07/11/2022

    PBOC deputy governor Fan Yifei has been placed under investigation over allegations of “severe violations of discipline and law”.

    AML / KYC

    Most Ransomware Attacks Have a Russia Nexus: FinCEN

    By Editors | 06/11/2022

    About 75 percent of ransomware-related incidents reported to FinCEN in H2 2021 had a nexus to Russia, its proxies, or persons acting on its behalf.

    AML / KYC

    US: ABA Warns Against Liability Shift for Fraudulent P2P Payments

    By Manesh Samtani | 04/11/2022

    Making banks liable for customer-initiated P2P transfers that result from fraud will harm consumers and competition, embolden scammers, and ultimately increase fraud rates.

    AML / KYC

    AUSTRAC Issues Updated Guidance on Due Diligence Obligations

    By Editors | 04/11/2022

    The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.

    AML / KYC

    AUSTRAC Orders AML Audits at Two Corporate Bookmakers

    By Editors | 04/11/2022

    Sportsbet and Bet365 are among the largest corporate bookmakers in Australia. AUSTRAC chief Nicole Rose said the whole industry is on notice.

    AML / KYC

    Crypto Being Used to Finance More Terrorist Activities: UN Official

    By Editors | 03/11/2022

    Up to 20 percent of terrorist attacks are seen as crypto-financed or linked to digital assets, compared to just 5 percent a couple of years ago.

    AML / KYC

    FATF Consults on New Draft Guidance on Beneficial Ownership

    By Editors | 03/11/2022

    The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.

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