AML / KYC

Enforcement

SG Police Charge Two for Disclosing Singpass Login Details

By Editors | 23/03/2022

The Singpass login details were used by scam syndicates to open new bank accounts to launder the proceeds of crime.

AML / KYC

GLEIF Welcomes LEI System’s First India Validation Agent

By Editors | 22/03/2022

Rubix Data Sciences has become the first India-based Validation Agent within the Global LEI System, and the sixth globally.

AML / KYC

Russia Promises to Contain Economic Fallout from Sanctions

By Manesh Samtani | 21/03/2022

Australia bans alumina exports to Russia. India is working on a rupee-ruble trade arrangement that would allow it to continue buying Russian energy.

AML / KYC

RBI Orders Paytm Payments Bank to Stop Onboarding Clients

By Editors | 19/03/2022

The bank reportedly violated rules by allowing data to flow to servers overseas and did not properly verify thousands of customers.

AML / KYC

NZ Regulators Issue Guidance on Russia Sanctions Compliance

By Manesh Samtani | 19/03/2022

The guidance highlights the need for reporting entities to conduct due diligence to understand who has effective control or beneficial ownership of legal structures.

AML / KYC

US Omnibus Bill Grants FinCEN 27pc Budget Increase

By Mark Johnston | 18/03/2022

The additional budget is to allow FinCEN to respond to the situation in Ukraine, including expenses foreign government personnel to attend meetings and training.

AML / KYC

US Treasury, DOJ Launch Global Task Force to Target Russian Assets

By Manesh Samtani | 17/03/2022

FinCEN is meanwhile taking steps to boost cooperation with the FIUs of Australia, Canada, France, Germany, Italy, Japan, New Zealand, the UK , and the Netherlands.

AML / KYC

MAS Issues Guidance on Russia Sanctions Compliance

By Manesh Samtani | 17/03/2022

Crypto exchange operators have all been instructed to provide details of their Russia-linked clients to the regulator.

AML / KYC

Japan Crypto Exchanges Ordered to Comply with Sanctions

By Editors | 17/03/2022

Fines up to JPY 1 million and up to three years’ imprisonment are specified for non-compliance with sanctions by crypto exchange platforms.