AML / KYC

    Enforcement

    SG Police Make Series of Arrests Targeting Scam Syndicates

    By Editors | 24/08/2022

    4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.

    AML / KYC

    Malaysia: Federal Court Upholds Najib Razak Conviction

    By Editors | 24/08/2022

    Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.

    Enforcement

    US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

    By Editors | 23/08/2022

    Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

    AML / KYC

    India, Russia Continue to Explore Non-USD Trade Options

    By Editors | 23/08/2022

    Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.

    AML / KYC

    Malaysia to Enhance AML Supervision of Company Secretaries, Trust Companies

    By Editors | 23/08/2022

    The Companies Commission of Malaysia will “take on greater responsibility” in supervising company secretaries and trust companies “in the near future”.

    AML / KYC

    US Concerned India is Routing Russian Oil to New York

    By Editors | 22/08/2022

    An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.

    AML / KYC

    Almost $2b Stolen from Crypto Hacks in H1 2022: Chainalysis

    By Editors | 22/08/2022

    The value stolen from crypto hacks increased 60% from the same pariod last year, largely attributed to vulnerabilities of DeFi protocols.

    AML / KYC

    Korean Authorities to Block, Investigate 16 Foreign Crypto Firms

    By Editors | 21/08/2022

    The unregistered foreign VASPs including KuCoin were referred for investigation and will have their websites and transactions blocked in Korea.

    Enforcement

    Wirecard-related Charges Filed in Singapore, Philippines

    By Editors | 18/08/2022

    The charges in Singapore are for criminal breach of trust and money laundering. A bank official in the Philippines was indicted.

    AML / KYC

    SEC Charges 18 for Manipulation Using Hacked Trading Accounts

    By Editors | 18/08/2022

    The hackers broke into at least 31 US retail brokerage accounts to buy stock to drive up prices and exit their positions at artificially high prices.

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