AML / KYC

    AML / KYC

    First North Korean Set to Face US Money Laundering Charges

    By Manesh Samtani | 24/03/2021

    Extradited to the US two years after his arrest in Malaysia, the North Korean national will face charges for money laundering, evading sanctions, and defrauding banks.

    AML / KYC

    Australian Treasury Consults on New Director ID Regime

    By Ranamita Chakraborty | 23/03/2021

    The director ID regime will help to promote good corporate conduct, deter illegal phoenix activities, and facilitate traceability of directors over time.

    AML / KYC

    Beijing Financial Court Created to Counter US Long Arm Jurisdiction

    By Sanday Chongo Kabange | 23/03/2021

    The extraterritorial application of China’s financial laws will play a bigger role in opening up the domestic market, the Supreme People’s Court said.

    AML / KYC

    Bangladesh TBML Rule Makes Mis-invoicing a Jailable Offence

    By Sanday Chongo Kabange | 22/03/2021

    A new Finance Ministry order makes incorrect declaration on exports, imports and investment abroad a jailable offence.

    AML / KYC

    Singapore Police Issue First Charges in Nickel Trading Fraud Case

    By Editors | 22/03/2021

    At least SGD 1 billion was invested for the purported sale and purchase of nickel, making the case one of the largest financial fraud cases in Singapore.

    AML / KYC

    EU Sanctions Officials from China, Myanmar, Others

    By Editors | 22/03/2021

    The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

    AML / KYC

    Korea’s New AML Law for VASPs Set to Take Effect

    By Sanday Chongo Kabange | 22/03/2021

    From 25 March, VASPs will have six months to register with KoFIU, and must start report suspicious transactions. The travel rule will apply one year later.

    AML / KYC

    FATF Seeks Stakeholder Views on Updated VASP Guidance

    By Editors | 21/03/2021

    Views are sought from academics, policy bodies, VASPs, technology developers and providers, other regulated entities such as banks, and authorities.

    AML / KYC

    AUSTRAC Questioned on Handling of Drug Money Case

    By Editors | 21/03/2021

    AUSTRAC reportedly said it has not taken action against the banks involved because they did not have reason to be suspicious of the transactions and they aided the investigation.

    AML / KYC

    China: 13 Arrested for Using Crypto to Launder Fraud Proceeds

    By Editors | 21/03/2021

    The suspects confessed to laundering proceeds from telecoms fraud using Tether, before withdrawing the funds to transfer overseas.

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