Anti-Money Laundering

Fraud, Scams & Cybercrime

UN General Assembly Adopts New Cybercrime Convention

By Manesh Samtani | 26/12/2024

The Convention will help to address online child sexual abuse, sophisticated online scams and money laundering

Anti-Money Laundering

US SEC Fines Deutsche Bank Securities for Late SAR Filings

By Editors | 24/12/2024

The SEC said the firm took months or years to conduct or complete investigations prompted by law enforcement or regulatory requests.

Anti-Money Laundering

Europol Examines Criminal Abuse of Legal Business Structures

By Manesh Samtani | 24/12/2024

New Europol report details how legal business structures are used to enable and disguise organised crime and launder criminal proceeds.

Anti-Money Laundering

Wolfsberg Group Issues Payment Transparency Roles & Responsibilities Guidance

By Editors | 23/12/2024

The guidance aims to help PSPs, regulators, and standard-setters understand their respective obligations in ensuring payment transparency.

Anti-Money Laundering

FMA Launches Legal Action Against InvestNow for Breaching AML Rules

By Editors | 22/12/2024

The FMA said it considers failures by retail investment platform InvestNow to be “significant and, in some respects, systemic.”

Supervision & Enforcement

RBI Removes Business Restrictions on Two Edelweiss Group Firms

By Editors | 22/12/2024

The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

Fraud, Scams & Cybercrime

INTERPOL Calls for Shift Away from ‘Dehumanising’ Term ‘Pig Butchering’

By Manesh Samtani | 22/12/2024

INTERPOL argues that the term dehumanises and shames victims of such frauds, deterring them from coming forward to seek help and provide information to authorities.

PEPs & Sanctions

US Imposes More Sanctions Targeting Iran’s Oil Trade & Yemen’s Houthis

By Editors | 22/12/2024

The sanctions targets include companies based in Hong Kong, Malaysia and India. Five cryptocurrency wallets were also added to the SDN list.

PEPs & Sanctions

OFAC Sanctions Two for Funnelling Illicit Proceeds to North Korea

By Editors | 18/12/2024

The two individuals are part of a network led by Sim Hyon Sop, a sanctioned China-based banking representative who helps North Korea launder money.