Anti-Money Laundering

Cryptocurrency

Vietnam to Introduce Regulatory Sandbox for Crypto, Fintech

By Nithya Subramanian | 21/01/2025

The sandbox will allow testing of business models in areas such as cryptocurrency trading and digital asset management

Anti-Money Laundering

UK Minister Resigns Over Ties to Ousted Bangladesh PM

By Nithya Subramanian | 20/01/2025

Tulip Siddiq denied any wrongdoing but said she was resigning because her position was “likely to be a distraction from the work of the government”.

PEPs & Sanctions

OFAC Unveils Final Set of Sanctions Under Biden Presidency

By Editors | 19/01/2025

The latest sanctions announcements were made over the Sudan conflict, North Korean IT workers, Houthi financing and Chinese cyber attacks.

KYC & CDD

Upbit Facing Potential Business Restrictions for AML Noncompliance

By Mark Johnston | 19/01/2025

South Korea’s largest cryptocurrency exchange is facing restrictions on conducting business with new customers for up to three months

Anti-Money Laundering

Belgian Regulator Probes ING Over for Alleged AML Violations

By Nithya Subramanian | 17/01/2025

ING Bank allegedly delayed reporting suspicious financial activities linked to former European Commissioner Didier Reynders.

Fraud, Scams & Cybercrime

CFPB Fines Block Inc Over Cash App Security Lapses

By Nithya Subramanian | 17/01/2025

The CFPB has fined Block for allowing fraud to proliferate and closing cases of reported fraud without even opening a legally required investigation.

PEPs & Sanctions

Korea Amends CFT/CPF Law to Expand Scope to Corporations

By Nithya Subramanian | 16/01/2025

Corporations linked to individuals involved in terrorism or WMD proliferation will be subject to restrictions on financial transactions and property disposals.

Anti-Money Laundering

US Fines Crypto Firm BitMEX $100m for AML Violations

By Nithya Subramanian | 16/01/2025

The Justice Department said the penalty sends a clear message that companies which violate AML and KYC rules will face strict consequences.

Anti-Money Laundering

AEON Bank President & Risk Head Dismissed Over AML Failures

By Thisanka Siripala | 15/01/2025

The president of AEON Financial Services also resigned after the banking subsidiary was ordered to correct serious AML deficiencies