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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
DeFi & Web3
BIS Papers Explore DeFi Benefits, Risks, and Systemic ‘Fragility’
By Mark Johnston | 22/12/2022
Regulators should address DeFi risks with globally consistent regulatory frameworks. Collateral liquidations in DeFi lead to lasting price impacts.
Anti-Money Laundering
NZ FMA Takes Tiger Brokers to Court for AML Failings
By Editors | 22/12/2022
Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain appropriate records.
Anti-Money Laundering
IDAXA to Develop Global AML Standards for Crypto Industry
By Editors | 20/12/2022
IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.
Anti-Money Laundering
US Lawmakers Introduce AML/CFT Bill for Crypto Firms
By Mark Johnston | 19/12/2022
The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.
Anti-Money Laundering
AUSTRAC Issues Guidance on Detecting OSEC Crime
By Editors | 19/12/2022
AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.
Anti-Money Laundering
FinCEN Proposes Rules on Access to Beneficial Ownership Information
By Editors | 18/12/2022
The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.
Anti-Money Laundering
NZ FMA Issues AML Warning Against Private Equity Firm
By Editors | 18/12/2022
The FMA said Pencarrow Private Equity failed to retain and make readily accessible identity and verification records for customers.
Market Abuse
US SEC, DOJ Charge Social Media Influencers for Securities Fraud
By Mark Johnston | 18/12/2022
Eight individuals are accused of engaging in a conspiracy to commit securities fraud through a social media-based “pump and dump” scheme.
Anti-Money Laundering
Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes
By Sanday Chongo Kabange | 15/12/2022
Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.
PEPs & Sanctions
AUSTRAC Releases First Proliferation Financing Risk Assessment
By Manesh Samtani | 15/12/2022
Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
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