AML / KYC

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    AML / KYC

    Former EU Justice Commissioner Investigated for Money Laundering

    By Nithya Subramanian | 05/12/2024

    Belgian police searched the homes of Didier Reynders amid allegations of laundering funds through lottery ticket purchases.

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    AML / KYC

    US, UK Target Major Russian Sanctions Evasion Network

    By Editors | 05/12/2024

    OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

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    AML / KYC

    Australia Directs ACMA to Operate ‘Mandatory’ SMS Sender ID Register

    By Sanday Chongo Kabange | 05/12/2024

    The ACMA is directed to develop an enforceable industry standard for a mandatory ‘SMS Sender ID Register’ to protect against scams.

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    AML / KYC

    FBI Issues Alert on Use of GenAI for Sophisticated Scams

    By Thisanka Siripala | 04/12/2024

    The alert includes specific examples of how criminals are exploiting GenAI in fraud schemes to raise public awareness and encourage vigilance

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    AML / KYC

    Malaysia Proposes Stricter Laws to Target Harm from Online Content

    By Nithya Subramanian | 04/12/2024

    The proposed amendments aim to curb objectionable online content to curb scams, online gambling, bullying and pornography.

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    AML / KYC

    HKMA Announces Two New Anti-Scam Measures for Banks

    By Sanday Chongo Kabange | 04/12/2024

    “Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.

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    AML / KYC

    Basel Institute on Governance Publishes 2024 Basel AML Index

    By Manesh Samtani | 04/12/2024

    In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

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    AML / KYC

    UK FCA Finalises Updates to Financial Crime Guide

    By Editors | 04/12/2024

    The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

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    AML / KYC

    Taiwan Executive Yuan Approves “Version 2.0” Anti-Fraud Action Plan

    By Manesh Samtani | 03/12/2024

    The FSC also issued new regulatory guidelines for FIs and VASPs on preventing the fraudulent use of financial services.

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    AML / KYC

    Australian Police Dismantle Money Laundering Syndicate

    By Sanday Chongo Kabange | 03/12/2024

    The AFP has arrested four men and dismantled an organised crime syndicate that allegedly laundered A$10mn of criminal proceeds.

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