AML / KYC

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.

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.

AML / KYC

Lombard Odier, Ex-Banker Indicted in Swiss Money Laundering Case

By Nithya Subramanian | 03/12/2024

Swiss prosecutors alleged that Lombard Odier and one of its former RMs concealed dirty funds and engaged in “aggravated money laundering”.

AML / KYC

South Korea Cracks Down on Illegal Spam Messages

By Mark Johnston | 03/12/2024

The new measures include enhanced filtering services and the application of KISA’s blacklist system to prevent the mass transmission of illegal messages.

Fintech / Regtech

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

By Editors | 03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

AML / KYC

Meta Tightens Ad Rules to Curb Financial Scams​ in Australia

By Thisanka Siripala | 02/12/2024

Meta will require financial advertisers to verify their AFSL numbers and disclose payer and beneficiary information

AML / KYC

Malaysian Court Drops Corruption Charges Linked to 1MDB: Report

By Nithya Subramanian | 02/12/2024

The court granted an acquittal to Najib Razak and another former official due to procedural delays and the prosecution’s failure to provide crucial documents.

AML / KYC

Central Banks Offers Legal and System Design Lessons for Retail CBDC

By Manesh Samtani | 01/12/2024

Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

AML / KYC

Morgan Stanley Internal Documents Show Scale of AML Deficiencies

By Nithya Subramanian | 30/11/2024

Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.