Anti-Money Laundering

Anti-Money Laundering

BIS Innovation Hub to Study Use of Data Technologies for AML

By Editors | 12/02/2023

Project Aurora will study privacy-enhancing technologies, machine learning methods, network analysis, the use of additional data sources, and “machine-readable typologies”.

Anti-Money Laundering

Russian National Pleads Guilty to Money Laundering Conspiracy

By Editors | 11/02/2023

The Russian national and unnamed co-conspirators allegedly laundered at least USD 70 million in ransom proceeds using cryptocurrency.

Anti-Money Laundering

Japan FSA Issues Draft Rules for Travel Rule Implementation

By Editors | 10/02/2023

The rules will implement laws passed in Japan last year, establishing requirements for Japanese crypto firms to comply with the travel rule.

Anti-Money Laundering

HKMA Updates Guidance on Transaction Monitoring, Screening, Reporting

By Manesh Samtani | 10/02/2023

A key objective of the update is to support greater use of technology to generate targeted alerts and more actionable intelligence, the HKMA said.

Anti-Money Laundering

Swiss Prosecutors Investigate Credit Suisse’s 2022 Data Leak

By Sanday Chongo Kabange | 08/02/2023

The investigation centres on suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws.

Anti-Money Laundering

India Orders Ban on Over 200 Betting and Loan Apps

By Editors | 08/02/2023

The move follows several arrests and raids on payment firms last year connected to a probe into money laundering by loan companies said to be controlled by Chinese individuals.

Anti-Money Laundering

SFC Fines Jinrui Futures for AML Compliance Failures

By Editors | 08/02/2023

Jinrui Futures is the 5th firm to be fined over the use of software that allowed Mainland investors to trade in Hong Kong without opening a local securities account.

Cryptocurrency

UK FCA Directs Crypto Firms to Prepare for New Ad Rules

By Editors | 08/02/2023

Breaches of the rules can result in takedowns of websites, public warnings, and other actions, including up to two years in prison.

Cryptocurrency

Coinbase’s Exit From Japan Complicates Travel Rule Adoption

By Manesh Samtani | 07/02/2023

With Coinbase leaving the market, Japanese VASPs using TRUST will likely have to switch to a different travel rule solution.