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AML / KYC
AUSTRAC Proposes Amendments to AML/CTF Rules
By Sanday Chongo Kabange | 16/03/2022
A new consultation paper proposes to exempt FIs that are already enrolled with AUSTRAC from registration on the DCE Register when offering digital currency exchange services.
AML / KYC
Tencent Faces Record Penalty Over AML Breaches – Report
By Sanday Chongo Kabange | 16/03/2022
The breaches involved failures to verify the identities of users and merchants transacting on WeChat Pay, as well as the source of funds for those transactions.
Fintech / Regtech
Dubai Establishes New Law, Regulator for Crypto Assets
By Mark Johnston | 16/03/2022
The new law comes as crypto firms in the UAE receive streams of requests from sanctioned Russians to liquidate billions of dollars of crypto assets.
AML / KYC
INTERPOL Launches Financial Crime and Anti-Corruption Centre
By Editors | 16/03/2022
The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.
AML / KYC
G7 to Downgrade Russia Trade Status, Close Sanctions Loopholes
By Editors | 13/03/2022
US bans more Russian trade. G7 pledges to close national-level loopholes that could enable sanctions evasion via crypto-assets, among other commitments.
Fintech / Regtech
Japan Crypto Industry Set to Adopt Travel Rule
By Editors | 13/03/2022
The travel rule will increase transparency on the individuals and entities crypto exchanges deal with, as the government seeks to prevent sanctions evasion.
AML / KYC
BIS Suspends Russian Central Bank as UK Adds More Sanctions
By Manesh Samtani | 11/03/2022
UK adds seven names to its sanctions list. Goldman and JPMorgan to close Russian operations. Russia to nationalise assets of foreign companies.
AML / KYC
Singapore Court Imposes 9 Year Jail Sentence for IRAS Fraud
By Editors | 10/03/2022
230 companies, mostly dormant and shell companies, were used to submit 400 fraudulent applications claiming tax breaks.
AML / KYC
Philippine AMLC Extends Deadline for DNFBP AML Programmes
By Editors | 10/03/2022
The deadline for DNFBPs to formulate a money laundering and terrorism financing prevention programme has been extended to June.
AML / KYC
US President Calls for Comprehensive Approach to Digital Assets
By Editors | 10/03/2022
The US Treasury and other agencies are directed to submit a series of reports within six months recommending a policy approach for digital assets.
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