Anti-Money Laundering

Anti-Money Laundering

Wolfsberg Group Responds to FATF Payment Transparency Consultation

By Manesh Samtani | 01/05/2024

Operators of payment market infrastructures should be brought into the scope of R.16 and ISO 20022 terminology should be adopted.

Anti-Money Laundering

US Court Sentences Binance Founder to Four Months Jail

By Editors | 01/05/2024

The sentence was below the three years requested by prosecutors and the 18 month maximum recommended under federal guidelines.

Anti-Money Laundering

Korea FSS Issues “Model” Standards for Credit Finance Companies

By Editors | 01/05/2024

The standards call for better management of executives and employees to prevent money laundering, conflicts of interest, and misuse or embezzlement of loan funds.

Cryptocurrency

Russia to Tighten Regulations for Crypto Mining Operations

By Editors | 01/05/2024

Earlier it was reported that Russia was planning to ban private cryptocurrencies outright, but a lawmaker has dispelled this notion.

Fraud, Scams & Cybercrime

QLD Police Charge Four for ‘Boiler Room’ Investment Fraud

By Sanday Chongo Kabange | 01/05/2024

Approximately 30 people were defrauded of over A$1.5 million between 2018 and 2021. Four people were arrested and charged.

KYC & CDD

India: AMFI in Talks with SEBI to Resolve Mutual Fund KYC Logjam

By Ajoy K Das | 01/05/2024

New KYC validation process is preventing mutual fund investors from undertaking new mutual fund transactions, including redemptions.

Anti-Money Laundering

Sri Lanka Adopts Law to Enable Confiscation of Crime Proceeds

By Mark Johnston | 30/04/2024

Sri Lanka’s Cabinet approved a law that enables the tracing and confiscation of criminal proceeds, including to retrieve assets hidden overseas.

Fraud, Scams & Cybercrime

Taiwan Prosecutors Charge 32 Suspects Over Crypto Fraud

By Editors | 29/04/2024

The suspects encouraged investors to purchase various tokens and manipulated their prices, causing TWD 800 million in losses.

Anti-Money Laundering

HKMA Seeking to Identify Next Areas of Focus in AML Regtech

By Manesh Samtani | 29/04/2024

HKMA is inviting professional firms to recommend AML Regtech use cases where adoption rates can be targeted for increase over the next two years.