Anti-Money Laundering

Fraud, Scams & Cybercrime

ACCC to Create 2nd NASC Fusion Cell to Target Job Scams

By Sanday Chongo Kabange | 01/08/2024

The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.

Fraud, Scams & Cybercrime

Details Revealed on Chinese Scam Operated from Isle of Man

By Manesh Samtani | 01/08/2024

The case is the first known where Chinese nationals operated a pig-butchering scam from a Western country to con victims in China.

Payments & Settlements

China Implements Tighter Rules for Non-Bank Payments Platforms

By Editors | 31/07/2024

The rules impose stricter licensing, business management, risk management and user protection requirements on non-bank payment institutions.

Anti-Money Laundering

MAS Tightens Licensing Requirements for Payment Services

By Ranamita Chakraborty | 31/07/2024

Applicants must submit a legal opinion, an independent assessment report by an external auditor, and have a governance structure for compliance and AML/CFT oversight.

Supervision & Enforcement

Fed Terminates Enforcement Action Against Silvergate Bank

By Editors | 31/07/2024

The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.

AI Risk & Governance

Regulating GenAI: New Tools, Old Challenges

By Bradley Maclean | 30/07/2024

Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.

Cryptocurrency

India to Issue Policy Paper on Crypto ‘Before September’

By Ajoy K Das | 30/07/2024

The paper will include proposals on the scope of cryptocurrency regulations, based on the IMF-FSB roadmap adopted by the G20 last year.

Anti-Money Laundering

US Treasury Launches Amazon Initiative to Combat Nature Crimes

By Nithya Subramanian | 30/07/2024

The initiative will enable authorities in Amazon Basin countries to pursue money laundering investigations against illicit actors involved in nature crimes.

Fraud, Scams & Cybercrime

Interpol Issues Red Notices for Hong Kong Crypto Promoters

By Sanday Chongo Kabange | 30/07/2024

The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.