Anti-Money Laundering

PEPs & Sanctions

FinCEN Sheds Light on Cases of Export Control Evasion

By Editors | 11/09/2023

SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.

PEPs & Sanctions

No Place to Hide: US Court Upholds Sanctions on Decentralised Crypto Platform

By James Gillespie | 11/09/2023

RUSI’s James Gillespie discusses what the Tornado Cash case means for holding DeFi platforms accountable under AML and sanctions laws.

Fraud, Scams & Cybercrime

FinCEN Issues Alert on “Pig Butchering” Scams

By Editors | 11/09/2023

FinCEN provides red flags to help in the identification of pig butchering activity so that FIs can report this activity and enable law enforcement to track down the perpetrators.

Anti-Money Laundering

Fourth Former FTX Executive Pleads Guilty to US Charges

By Editors | 10/09/2023

The former co-chief of FTX Bahamas pleaded guilty to making unlawful political donations and operating an illegal money-transmitting business.

Fraud, Scams & Cybercrime

Turkish Court Sentences Crypto Founder to 11,000 Year Jail Term

By Mark Johnston | 08/09/2023

The founder of Thodex and his two siblings were sentenced for fraud, money laundering and leading a criminal organisation.

Anti-Money Laundering

Foreign Ownership of UK Property Still Not Transparent, Despite Reforms

By Manesh Samtani | 07/09/2023

The biggest reason for missing or inaccessible information on beneficial owners is the use of trusts, according to new research.

Anti-Money Laundering

ACRA Working on Bill to Cap Nominee Directorships – Report

By Editors | 06/09/2023

Amendment bill may also increase financial penalties for corporate service providers that breach their AML obligations.

Anti-Money Laundering

FSS Inspections Find AML Deficiencies at Korean e-Payments Firms

By Editors | 06/09/2023

The FSS said management awareness of AML work within electronic financial businesses is low; internal controls and risk assessments are deficient.

Cryptocurrency

WFE Publishes Research on Exchange Engagement with Crypto Market

By Manesh Samtani | 06/09/2023

WFE survey found that almost half of the respondent exchanges already offer some crypto-related product or service in response to mostly retail demand.