AML / KYC

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    Sanctions

    US Sanctions Russian Individuals, Entities for Election Interference

    By Editors | 05/09/2024

    The DOJ also charged two employees of the Russian-backed media network RT for conspiring to commit money laundering.

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    AML / KYC

    Indonesia Captures Former Philippine Mayor Charged for Money Laundering

    By Editors | 05/09/2024

    The former mayor Alice Guo fled the Philippines in July after she was accused of helping to set up an illegal online gambling and scam centre.

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    AML / KYC

    Indonesia Blocks Online Gamblers from Accessing Financial Services

    By Nithya Subramanian | 03/09/2024

    Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.

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    AML / KYC

    Singapore Proposes Law to Empower Police to Stop Scams

    By Nithya Subramanian | 03/09/2024

    The proposed law will allow police to restrict banking transactions for victims who refuse to believe they are being scammed.

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    AML / KYC

    New Zealand to Introduce AML Amendment Bill in November

    By Sanday Chongo Kabange | 03/09/2024

    A new cabinet paper sets out 25 proposals for further amendments to New Zealand’s AML/CFT Act.

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    Enforcement

    SFC Imposes Lifetime Ban on Former UBS Associate Director

    By Sanday Chongo Kabange | 03/09/2024

    The former associate director was banned for life following his conviction for laundering $1.8mn that he stole from UBS.

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    Crypto / Digital Assets

    Indian Court Orders Takedown of Scam Crypto Websites

    By Ajoy K Das | 03/09/2024

    The order was granted after crypto firm Mudrex filed legal action to stop investors being scammed by websites using its name and brand.

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    AML / KYC

    Thai Banks Have Fully Implement Anti-Money Mule Measures: BOT

    By Nithya Subramanian | 02/09/2024

    The measures include sharing information through the Central Fraud Registry and blocking high-risk customers from opening accounts.

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    AML / KYC

    HKMA Fines WeChat Pay for AML Control Deficiencies

    By Sanday Chongo Kabange | 02/09/2024

    WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

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    Enforcement

    China Extradites Crime Syndicate Ringleaders to South Korea

    By Editors | 01/09/2024

    The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

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