AML / KYC

AML / KYC

US DOJ Files Civil Forfeiture Complaint to Recover Stolen Crypto

By Manesh Samtani | 31/08/2020

The two crypto exchange hacks detailed in the complaint are linked to the same group of Chinese actors who laundered over $250mn in stolen cryptocurrency for North Korea in 2018.

AML / KYC

Trade-based Money Laundering: Avoiding Murky Waters

By Jamil Ahmed | 31/08/2020

HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.

AML / KYC

US Agencies Warn of North Korean ATM Cash-out Threat

By Manesh Samtani | 30/08/2020

The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.

AML / KYC

ASIC Ends Years-old Probe into CBA’s AML Breaches

By Editors | 26/08/2020

ASIC will not be pursuing further enforcement action against Commonwealth Bank for the AML breaches that in 2018 resulted in a A$700mn settlement with AUSTRAC.

AML / KYC

US Sanctions Chinese Individuals, Entities Over South China Sea

By Editors | 26/08/2020

The US accuses one Chinese state-owned enterprise of engaging in “corruption, predatory financing, environmental destruction, and other abuses across the world.”

AML / KYC

SFC Grants In-principle Approval to Virtual Asset Trading Platform

By Editors | 23/08/2020

Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.

AML / KYC

Pakistan Issues Consolidated List of Sanctioned Individuals, Entities

By Editors | 23/08/2020

The Ministry of Foreign Affairs says various sanctions were already in place against almost all of the individuals and entities listed by the United Nations Security Council.

AML / KYC

Thailand SEC to Simplify KYC Rules for Low Risk Investment Products

By Editors | 22/08/2020

The SEC proposes to simplify KYC requirements for low-risk investment products such as local money market funds with daily redemption, subject to a THB 50,000 investment limit per account.

AML / KYC

ISO Sets Standard for Embedding LEIs in Digital Certificates

By Editors | 22/08/2020

Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.