AML / KYC

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    Enforcement

    Singapore to Issue First Charges Under New Anti-Scam Laws

    By Nithya Subramanian | 12/09/2024

    Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

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    AML / KYC

    UK FCA to Update Guidance on Addressing Suspicious Payments

    By Manesh Samtani | 12/09/2024

    The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.

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    Crypto / Digital Assets

    UK FCA Charges Man for Operating Illegal Crypto ATM Network

    By Nithya Subramanian | 12/09/2024

    The London resident is the first individual to be criminally prosecuted for unregistered crypto activity in the UK.

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    Enforcement

    Singapore Police Nab 6 Men Linked to Global Cybercrime Syndicate

    By Nithya Subramanian | 11/09/2024

    The men, suspected of conducting global malicious cyber operations from Singapore, were arrested in an operation involving 160 police officers.

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    AML / KYC

    Australia Introduces AML/CTF Reform Bill to Parliament

    By Sanday Chongo Kabange | 11/09/2024

    The amendment bill will bring tranche 2 entities into scope and modernise the regulation of virtual assets and payments tech.

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    AML / KYC

    State Bank of Vietnam Tightens Grip on Account Fraud – Report

    By Nithya Subramanian | 11/09/2024

    Financial institutions are now required to provide monthly updates on accounts showing signs of fraud or other legal violations.

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    AML / KYC

    Stronger AML Controls Needed to Combat Organised Crime: AIC

    By Thisanka Siripala | 10/09/2024

    The Australian Institute of Criminology found that money laundering activity by organised crime groups leads to increases in crime-related harm.

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    AML / KYC

    US Celebrities Received 1MDB Funds Worth $2.43m – Reports

    By Nithya Subramanian | 10/09/2024

    A Malaysian court heard that fugitive Jho Low transferred 1MDB money to Kim Kardashian and Pharrell Williams but the reasons are unknown.

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    AML / KYC

    France Releases Telegram CEO on €5m Bail and Conditions

    By Manesh Samtani | 10/09/2024

    Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.

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    AML / KYC

    HKMA Issues Guidance on Using AI to Enhance AML Monitoring

    By Sanday Chongo Kabange | 10/09/2024

    Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.

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