AML / KYC

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    AML / KYC

    MAS Issues New ‘Source of Wealth’ Guidance for FIs

    By Nithya Subramanian | 29/07/2024

    MAS sets out key risk principles that FIs should follow when designing policies to establish SOW of customers.

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    Enforcement

    Paris Court Orders Crédit Lyonnais to Compensate Scam Victim

    By Editors | 28/07/2024

    Crédit Lyonnais, a subsidiary of Crédit Agricole, was ordered to pay compensation to a customer who was scammed with fraudulent invoices.

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    AML / KYC

    Russian Actors ‘Ubiquitous’ in Global Crypto Crime: TRM Labs

    By Editors | 27/07/2024

    Sanctioned Russia-based crypto exchange Garantex accounted for 82% of crypto transactions associated with all sanctioned entities internationally in 2023.

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    AML / KYC

    Humanitarian Crisis in Gaza Being Exploited for Terror Financing

    By Ranamita Chakraborty | 26/07/2024

    Singapore’s Internal Security Department warns that charities and NGOs are being used by Hamas networks to raise funds globally.

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    Crypto / Digital Assets

    UK FCA Fines Coinbase Unit for ‘Repeated’ Regulatory Breaches

    By Editors | 26/07/2024

    The Coinbase payments subsidiary provided payment services to more than 13,000 “high-risk” customers, despite being subject to restrictions imposed by the FCA.

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    AML / KYC

    BSP Introduces Framework for Merchant Payment Activities

    By Sanday Chongo Kabange | 26/07/2024

    The framework sets out regulatory requirements for operators of payment systems that engage in merchant payment acceptance activities.

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    AML / KYC

    US, UK, South Korea Warn of DPRK Espionage Campaign

    By Editors | 26/07/2024

    Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.

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    Crypto / Digital Assets

    HSBC Australia Blocks Payments to Crypto Exchanges

    By Editors | 26/07/2024

    The decision was made in light of data showing that Australians lost up to A$171mn in investment scams in 2023.

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    AML / KYC

    Philippines Announces Total Ban on Offshore Gaming Operators

    By Mark Johnston | 25/07/2024

    The ban announced by the President will impact more than 400 POGOs, most of which are unlicensed and operate underground.

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    AML / KYC

    RBI Revises Framework for Domestic Money Transfer Services

    By Ajoy K Das | 25/07/2024

    The revisions tighten KYC record keeping, AFA validation and transaction message requirements for domestic money transfers.

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