Anti-Money Laundering

Fraud, Scams & Cybercrime

Five Banks Searched in French Tax Fraud Probe

By Editors | 29/03/2023

Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

Anti-Money Laundering

EBA Drafts Amendments to AML Guidance to Account for Crypto Risks

By Mark Johnston | 29/03/2023

The amendments are part of efforts to implement MiCA, which is due to be voted on in April.

Anti-Money Laundering

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

By Editors | 29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

KYC & CDD

FinCEN Issues Guidance on Reporting Beneficial Ownership

By Editors | 29/03/2023

The guidance is intended to help businesses understand new beneficial ownership information reporting requirements that come into effect on 1 January 2024.

Anti-Money Laundering

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

Anti-Money Laundering

EU Lawmakers Agree New AML/CFT Rules

By Editors | 29/03/2023

Members of the European Parliament approved draft AML/CFT legislation, including plans for the new Anti-Money Laundering Authority.

Anti-Money Laundering

CFTC Alleges Binance is Operating in the US Illegally

By Editors | 28/03/2023

The CFTC says Binance’s US activities were subject to registration and regulatory requirements but that key executives deliberately disregarded these requirements.

KYC & CDD

AUSTRAC Issues Guidance on Employee Due Diligence

By Editors | 27/03/2023

Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.

PEPs & Sanctions

South Korea Issues Another Set of DPRK Sanctions

By Manesh Samtani | 22/03/2023

The sanctions were imposed in the absence of a working multilateral mechanism to respond to its North Korea’s latest ICBM launch.