Anti-Money Laundering

KYC & CDD

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

By Editors | 27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

Supervision & Enforcement

JPMorgan Settles Remaining Epstein-related Lawsuits

By Editors | 27/09/2023

The bank will pay $75mn to the US Virgin Islands and has also settled its own lawsuit against former executive Jes Staley for an undisclosed sum.

Cryptocurrency

Taiwan Issues New Regulatory Guidelines for Crypto Sector

By Manesh Samtani | 27/09/2023

Overseas crypto platforms are not allowed to solicit business within Taiwan or from Taiwanese citizens unless they register locally and comply with local AML laws.

KYC & CDD

Philippine SEC Stresses Need for CDD on DNFBP Clients

By Sanday Chongo Kabange | 26/09/2023

Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

Anti-Money Laundering

HKMA Publishes Cases Studies on Regtech Adoption for AML/CFT

By Editors | 26/09/2023

The report features examples of Regtech implementation for fraud monitoring, TM alerts handling, media monitoring, and customer risk monitoring.

Supervision & Enforcement

Senior Nomura Banker Barred from Leaving China – Report

By Editors | 26/09/2023

The travel ban is said to be connected to a long-running investigation into two key executives of China Renaissance.

Anti-Money Laundering

US SEC Settles ESG Misstatements and AML Cases Against DWS

By Manesh Samtani | 26/09/2023

DWS said it stands by the ESG statements made in its financial disclosures and fund prospectuses and has already taken steps to address weaknesses.

Fraud, Scams & Cybercrime

India to Develop New Surveillance Tool for Crypto & Dark Web

By Manesh Samtani | 26/09/2023

The tool will also contain a comprehensive database of all known crypto exchanges worldwide, along with their contact information, for use in investigations.

Anti-Money Laundering

US Court Jails Wildlife Trafficker for Rhino Horn Smuggling

By Mark Johnston | 25/09/2023

A Malaysian citizen who conspired to smuggle rhino horns worth USD 2.1 million has been jailed in the US.