AML / KYC

AML / KYC

US, German Authorities Target World’s Largest Darknet Market

By Manesh Samtani | 07/04/2022

OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

By Editors | 07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.

AML / KYC

Myanmar Orders Conversion of All Foreign Currency to Kyat

By Editors | 07/04/2022

The order suggests the military government may be struggling to repay debt and purchase key supplies. Fresh sanctions were also recently announced.

AML / KYC

India Introduces Bill to Outlaw Proliferation Financing

By Sanday Chongo Kabange | 07/04/2022

The Bill will also give the government powers to freeze, seize or attach funds or other financial assets or economic resources to prevent WMD financing.

AML / KYC

US, UK Announce New Russia Sanctions, EU to Ban Coal Imports

By Manesh Samtani | 06/04/2022

New sanctions imposed against Sberbank, Alfa Bank, Credit Bank of Moscow, Putin’s adult daughters, and more Russian officials and oligarchs.

AML / KYC

From Russia in Haste

By ESG Investor | 06/04/2022

The response of corporates and investors to the invasion of Ukraine suggests both need to overhaul their due diligence processes.

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

AML / KYC

Singapore Banks to Station More Staff at Anti-Scam Centre

By Editors | 05/04/2022

While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.

AML / KYC

Japan, US Impose More Sanctions Over DPRK Missile Tests

By Mark Johnston | 05/04/2022

Japan sanctioned 4 Russia-based entities and 9 other individuals. The US sanctioned 5 more North Korean entities.