AML / KYC

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

AML / KYC

Basel AML Index Calls Out Ineffectiveness Across Jurisdictions

By Manesh Samtani | 21/09/2021

Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.

AML / KYC

Corruption, Bribery Seen as Key Challenges in 2020: Kroll

By Ranamita Chakraborty | 20/09/2021

A Kroll survey found that 82% of senior decision-makers for risk strategy felt corruption significantly impacted their organisations in 2020.

AML / KYC

Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims

By Editors | 18/09/2021

The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB’s 2010-2012 financial statements.

AML / KYC

RBI Invites NBFCs to Apply for Aadhaar Authentication Licences

By Editors | 17/09/2021

With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.

AML / KYC

Singapore Authorities Warn of SMS Diversion Attacks

By Editors | 15/09/2021

Malicious actors gained access to the systems of overseas telecom operators to divert SMS OTPs and authenticate fraudulent card transactions.

AML / KYC

SFC Finalises AML Guidelines for Securities Sector

By Manesh Samtani | 15/09/2021

The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.

AML / KYC

DPRK ‘Launders’ Vessel Identities to Evade Sanctions: C4ADS

By Editors | 15/09/2021

C4ADS says fraudulent ship registrations created with the IMO are being used to ‘launder’ the identity of vessels associated with illicit activities.

AML / KYC

German Finance, Justice Ministries Raided in Probe of FIU

By Sanday Chongo Kabange | 15/09/2021

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.