AML / KYC

The court action against TSB Bank was the first civil proceedings brought by the RBNZ under the AML/CFT Act.

The report says more needs to be done to combat organised crime and WMD proliferation risks, and a joint-agency body should be designated for setting national AML/CFT policies.

Hong Kong Customs for the first time detected a syndicate using cross-boundary vehicle drivers to assisting in money laundering activities.

24 of the 63 crypto exchanges operating in Korea have not yet applied for ISMS certification, a KoFIU registration requirement that takes months to obtain.

Refinitiv identified over 190,000 financial instruments relevant to the US investment ban against Non-SDN Chinese Military-Industrial Complex Companies as of 28 July.

Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.

The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.

Hong Kong’s delegate to the NPC Standing Committee Tam Yiu-chung says the vote was delayed pending further study.

Upbit has a partnership with K-bank for real-name verification. One or two more exchanges are expected to register by end-August.

The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.