Anti-Money Laundering

Market Abuse

Wash Trading Undermines Trust in NFT Markets: Report

By Manesh Samtani | 10/02/2022

Wash trading profits are likely derived from sales to “unsuspecting buyers”, who believe the NFTs they purchase have been growing in value.

Anti-Money Laundering

US DOJ Makes Largest Ever Cryptocurrency Seizure

By Sanday Chongo Kabange | 10/02/2022

The DOJ seized a record USD 3.6 billion in bitcoin tied to the 2016 Bitfinex hack, representing the largest financial seizure in its history.

Anti-Money Laundering

PBOC Fines MYbank for AML and Other Violations

By Editors | 10/02/2022

MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.

CBDCs

RBNZ to Commence Design Work on CBDC Proof of Concept

By Mark Johnston | 10/02/2022

Governor Adrian Orr said falling behind other central banks is “not an option” and the RBNZ will soon begin POC design and testing for a CBDC.

Anti-Money Laundering

AUSTRAC Issues Guidance on Identifying Forced Sexual Servitude

By Editors | 07/02/2022

New financial crime guide provides practical advice to enable banks, businesses, and other FIs to identify and report potential cases of forced sexual servitude.

Cryptocurrency

Crypto Prepares for a Regulated Future

By David Liu | 07/02/2022

As crypto goes mainstream, regulatory compliance will require robust and financial institution-grade AML and KYC processes, says David Liu.

Fraud, Scams & Cybercrime

Australian Billionaire Launches Criminal Proceedings Against Facebook

By Editors | 06/02/2022

Fortescue Metals Group chairman Andrew Forrest alleges that Facebook broke AML laws by failing to prevent crypto scams from being advertised on its platform.

Emerging Prudential Risks

Skills Gap a Key Bottleneck for Macao Financial Sector: IMF

By Sanday Chongo Kabange | 02/02/2022

The IMF proposes a multi-prong approach to bridge the skills gap and support the development of modern financial services in Macao.

Anti-Money Laundering

EBA Launches EuReCA, a Central Database for AML/CFT

By Editors | 01/02/2022

EuReCA will act as an early warning tool which will help competent authorities to act before ML/TF risks crystallise, the EBA said.