AML / KYC

The director faces charges for defrauding BOCHK into making L/C payments to a supplier and then laundering the proceeds back to his own company.

BitMEX unlawfully accepted orders and funds from US customers to trade cryptocurrencies and failed to have in place an AML and user verification programme.

The HKMA will launch interactive lab sessions to experiment with new technologies and emerging data analytics techniques, with an initial focus on network analytics and NLP.

Seven victims recently bought more than 49,000 shares in a US-listed company based on the recommendation of an “expert” and lost over $1mn within two days.

In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

Six Chinese nationals face jail for conspiracy to launder money for El Chapo-linked drug cartels, using casinos, front companies, and false passports.

The investor identification regime is expected to be launched in H2 2022. The securities transactions reporting regime will go live in H1 2023.

Westpac failed to report almost 8000 corporate transactions to overseas recipients between July 2018 and February 2019, the RBNZ said.

A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.