AML / KYC

AML / KYC

Chinese Police Target Offshore Gambling via E-Commerce Platforms

By Editors | 17/09/2020

Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.

AML / KYC

AUSTRAC Fines State Street Over IFTI Reporting Breaches

By Editors | 16/09/2020

State Street Bank and Trust failed to report IFTIs on 99 occasions. There is no suggestion that the transactions were suspicious or that there were CDD deficiencies.

AML / KYC

Japan FSA Probes E-money Providers as More Thefts Emerge

By Sanday Chongo Kabange | 16/09/2020

NTT Docomo has reported additional cases of thefts through its e-money service. Japan Post Bank has identified similar thefts via five other operators.

AML / KYC

DOJ Charges Three for North Korea Sanctions Breaches

By Sanday Chongo Kabange | 15/09/2020

Two North Koreans and one Malaysian allegedly used front companies to deceive US banks into processing transactions for North Korean customers.

AML / KYC

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

By Editors | 15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.

AML / KYC

Leveraging Data & Tech in Financial Crime Compliance

By Manesh Samtani | 14/09/2020

The pandemic has been an agent for accelerated change in operational and frontline functions. Financial crime compliance teams need to get in on the act.

AML / KYC

OFAC Settles Deutsche Bank Trust Sanctions Violations

By Editors | 13/09/2020

The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.

AML / KYC

Japanese Police Probe Thefts from NTT Docomo E-money Service

By Editors | 11/09/2020

NTT Docomo reportedly did not notify many of its partner banks after similar thefts last year, a warning which may have allowed them to bolster authentication protocols.

AML / KYC

EBA Calls for Harmonised AML/CFT Framework Across EU

By Editors | 10/09/2020

Responding to a European Commission call for advice, the EBA says it recommends the establishment of a single rulebook to harmonise the AML/CFT framework across the EU.