AML / KYC

AML / KYC

US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers

By Sanday Chongo Kabange | 09/06/2021

Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.

AML / KYC

European Commission Proposes European Digital Identity Regulation

By Sanday Chongo Kabange | 08/06/2021

To expedite the initiative, the European Commission has issued a recommendation for member states to establish a common toolbox by September 2022.

AML / KYC

AUSTRAC Launches Fresh Probes into Australian Casinos

By Ranamita Chakraborty | 07/06/2021

AUSTRAC has launched enforcement investigations into Crown Perth, The Star Sydney and SkyCity Adeliade over their dealings with high-risk customers and PEPs.

AML / KYC

Japan FSA Sets Hard Deadline for Full AML/CFT Compliance

By Editors | 07/06/2021

The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.

AML / KYC

AUSTRAC Launches Formal Probe into NAB Over AML Breaches

By Sanday Chongo Kabange | 07/06/2021

AUSTRAC said it is not considering civil penalty proceedings at this stage, a decision made based on the work undertaken by NAB to date.

AML / KYC

G7 Backs – but Looks Beyond – Mandatory Climate Disclosures

By ESG Investor | 07/06/2021

TCFD, IASB frameworks endorsed; communique also calls for progress on impact, nature-based and beneficial ownership reporting.

AML / KYC

FSC Korea Meets Crypto Exchanges Over Regulatory Reforms

By Sanday Chongo Kabange | 07/06/2021

The meeting focused on the operational difficulties faced by firms as they try to meet new regulatory requirements by a 24 September deadline.

AML / KYC

AUSTRAC Publishes Guidance on Detecting Cuckoo Smurfing

By Manesh Samtani | 07/06/2021

The guidance offers indicators to help financial services firms identify and report suspicious transactions related to cuckoo smurfing.

AML / KYC

BSP Orders Banks to Enhance STR Filing Processes

By Editors | 07/06/2021

Incorrect STR filings, as identified by the AMLC in a recent review, could downplay the risk and prioritisation of STRs, particularly when they involve high-risk crimes.