AML / KYC

AML / KYC

CFTC Penalises Crypto Firm, Pursues First Case Against DAO

By Editors | 29/09/2022

Crypto firm bZeroX transferred its software protocol to a DAO and then marketed this as a way to be “enforcement-proof”.

Crypto / Digital Assets

Korea FSS Finds More Suspicious Crypto-Linked FX Transactions

By Editors | 28/09/2022

FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

AML / KYC

SFC Shines Regulatory Spotlight on Online Platforms

By Hannah Cassidy | 28/09/2022

Hannah Cassidy and Natalie Curtis discuss key areas of concern for the SFC in relation to the online platforms operated by licensed firms.

AML / KYC

AUSTRAC Identifies Emerging AML Risks Facing Super Funds

By Sanday Chongo Kabange | 28/09/2022

Super funds are exposed to cyber crime, as well as AML risks resulting from the growth in merger activity across the sector.

AML / KYC

Malaysia Announces New Measures to Combat Financial Scams

By Editors | 28/09/2022

Malaysian banks will migrate SMS OTP to a more secure form of authentication, and further tighten detection rules and triggers to block scam-related transactions.

AML / KYC

AUSTRAC Spotlights Risks Associated with Remittance Sector

By Sanday Chongo Kabange | 27/09/2022

Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

AML / KYC

Deutsche Bank to Settle US Shareholder Lawsuit for $26m

By Editors | 27/09/2022

Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.

AML / KYC

AUSTRAC Releases Risk Assessment of Bullion Sector

By Editors | 26/09/2022

Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.

AML / KYC

UK Introduces Economic Crime Bill to Parliament

By Editors | 26/09/2022

The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.