AML / KYC

A review of OCBC's anti-fraud systems and procedures concluded that the bank should take a more "integrated approach" to combat fraud and scams.

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

Bangladesh Bank issued the order to ensure banks comply with guidelines issued by BFIU requiring them to establish vessel-tracking systems.

The February version of the bill proposed to only allow crypto to be used as an investment vehicle. A digital ruble will be ready next year.

The commitment includes action to promptly implement global beneficial ownership rules and increase countries' capabilities to recover criminal assets.

OFAC designated Russian crypto miners and a bank offering sanctions evasion services. The UK sanctioned Russian generals and others supporting the military.