AML / KYC

AML / KYC

FATF Issues Report on Digital Tools for Law Enforcement

By Editors | 12/06/2022

The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.

AML / KYC

OFAC Blocks Secondary Market Trading in Russian Debt, Equity

By Editors | 12/06/2022

To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.

AML / KYC

BNM Directs Banks to Enhance Fraud Risk Controls

By Editors | 12/06/2022

BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.

AML / KYC

DOJ Calls for Stronger International Cooperation on Crypto Crime

By Editors | 08/06/2022

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.

Crypto / Digital Assets

US Senators Propose Regulatory Framework for Crypto Assets

By Manesh Samtani | 08/06/2022

The CFTC would be granted authority over crypto spot markets, based on the understanding that “most digital assets are more similar to commodities than securities”.

AML / KYC

GCFFC Forms New Technology Experts Working Group

By Editors | 08/06/2022

The working group will identify areas of the fighting financial crime ecosystem that would benefit most from available technology upgrades.

AML / KYC

EU Proposes to Make AML Compliance a Licence Condition

By Editors | 05/06/2022

EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.

AML / KYC

Former CSRC Official Sentenced to Death With Reprieve

By Editors | 05/06/2022

A former CSRC official and Communist Party city chief was found to have taken $41mn in bribes between 2004 and 2020.

Crypto / Digital Assets

Japan Approves Law Clarifying Legal Status of Stablecoins

By Manesh Samtani | 05/06/2022

Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.