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AML / KYC
RBNZ Establishes Standalone Enforcement Department
By Ranamita Chakraborty | 13/04/2021
The new department will work to incentivise and manage prudent behaviour as well as hold institutions to account for non-compliance.
AML / KYC
Singapore Court Charges Five Over Shell Company Activity
By Ranamita Chakraborty | 12/04/2021
Between 2016 and 2019, eight police reports were filed by victims who were deceived into wiring around $1.7mn into the bank accounts of Singapore-registered shell companies.
AML / KYC
SEC Thailand Allows Crypto Exchange Bitkub to Resume Services
By Editors | 12/04/2021
Bitkub has been allowed to resume accepting new clients. A warning was issued against Binance. Huobi was ordered to suspend services.
AML / KYC
FATF President Calls for Rethink of Regulatory Culture
By Manesh Samtani | 09/04/2021
Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.
AML / KYC
Sydney Court Jails Man for Cryptocurrency Money Laundering
By Sanday Chongo Kabange | 08/04/2021
The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.
AML / KYC
Philippines Expands AML Rules to Financing, Lending Firms
By Ranamita Chakraborty | 08/04/2021
All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.
AML / KYC
FinCEN Consults on Beneficial Ownership Reporting Requirement
By Editors | 08/04/2021
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
AML / KYC
Japan Crypto Industry to Adopt Travel Rule by April 2022
By Sanday Chongo Kabange | 07/04/2021
The FSA has written to the JVCEA advising it to start preparing for the implementation of the travel rule in Japan’s crypto industry.
AML / KYC
Australia Lags Regional Peers on DNFBP Regulation: Report
By Manesh Samtani | 03/04/2021
Australia is sending a message to financial criminals around the world that its lawyers, accountants and property market are open for business.
AML / KYC
Hong Kong to Allow Companies to Conceal Director Identities
By Manesh Samtani | 03/04/2021
The proposal will hamper the ability of investors, banks, property agents, researchers and journalists to carry out due diligence on transactions and counterparties.
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