AML / KYC

AML / KYC

CBIRC Targets Related Party Transactions with New Rules

By Manesh Samtani | 18/01/2022

Banks and insurers have to put in place mechanisms to identify, monitor and manage related parties and related party transactions by March 2022.

AML / KYC

Russia Says REvil Hacking Group Has Been Dismantled

By Sanday Chongo Kabange | 18/01/2022

Russia’s intelligence bureau raided 25 properties, detained 14 individuals, and seized cash, cryptocurrency and luxury vehicles.

AML / KYC

US Issues Sanctions Over DPRK Ballistic Missile Launches

By Editors | 18/01/2022

The sanctions target six North Koreans, one Russian and a Russian firm were responsible for procuring goods for North Korean weapons programmes.

AML / KYC

KoFIU Unveils AML Supervision & Inspection Plan for 2022

By Sanday Chongo Kabange | 18/01/2022

KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.

AML / KYC

Crime Becoming Smaller Part of Crypto Ecosystem: Report

By Manesh Samtani | 17/01/2022

Chainalysis estimates that illicit wallet addresses received $14bn throughout 2021, but this represented just 0.15% of total transaction volumes in crypto during the year.

AML / KYC

HKMA Fines Prepaid Card Issuer 33FS for AML/CTF Deficiencies

By Editors | 17/01/2022

The case involved control deficiencies in respect of 33 Financial Services Limited’s transaction monitoring and name screening systems, the HKMA said.

AML / KYC

OFAC Fines HK Unit of Japanese Conglomerate Sojitz

By Editors | 13/01/2022

Trading in Iran-origin goods was carried out without the knowledge of senior management by employees who omitted information from documentation.

AML / KYC

SEBI Requires Debt Issuers to Disclose Related Party Transactions

By Sanday Chongo Kabange | 13/01/2022

High-value debt listed entities must submit reports on their related party transactions to stock exchanges every six months.

AML / KYC

DPRK Sanctions Evasion Not Being Captured by Regulation

By Manesh Samtani | 07/01/2022

Gatekeeper professions play an important role in facilitating North Korean sanctions evasion, RUSI says in a new paper.