Anti-Money Laundering

KYC & CDD

Cayman Islands: New Beneficial Ownership Regime Commences

By Editors | 09/08/2024

Beneficial ownership information will not yet be available to the public in light of the November 2022 ruling by the European Court of Justice.

Cryptocurrency

India Has “No Proposal” to Regulate Crypto Beyond Tax, AML

By Ajoy K Das | 09/08/2024

MOF official told Parliament the government will coordinate with global standard-setting bodies before considering any measures domestically.

Anti-Money Laundering

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Anti-Money Laundering

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

Anti-Money Laundering

Revised Anti-Money Laundering Law Takes Effect in Taiwan

By Manesh Samtani | 08/08/2024

The amendments introduce criminal penalties for overseas crypto firms that offer services in Taiwan without establishing a local unit and complete an AML registration process.

Anti-Money Laundering

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

By Editors | 07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

Anti-Money Laundering

HKMA Expands FINEST Platform to Ten Participating Banks

By Editors | 07/08/2024

HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

Anti-Money Laundering

Singapore Parliament Passes Bill to Strengthen AML Regime

By Nithya Subramanian | 07/08/2024

The amendment bill will enable STRO to access more intelligence from government agencies and make it easier for prosecutors to pursue cases.

Anti-Money Laundering

The Case for Change: Leveraging GenAI in Anti-Financial Crime

By Bradley Maclean | 07/08/2024

GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.