Anti-Money Laundering

Anti-Money Laundering

GCFFC Calls for Action on Beneficial Ownership Data

By Manesh Samtani | 26/08/2021

Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.

Anti-Money Laundering

APG Releases 2021 Typologies Report, Case Studies

By Editors | 26/08/2021

The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.

Anti-Money Laundering

Upbit Becomes First Crypto Exchange to Register With KoFIU

By Editors | 24/08/2021

Upbit has a partnership with K-bank for real-name verification. One or two more exchanges are expected to register by end-August.

Anti-Money Laundering

FMA Identifies AML Breaches by Investment Platform Sharesies

By Editors | 23/08/2021

The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.

Anti-Money Laundering

Philippine President to Prioritise Bill to Ease Bank Secrecy Rules

By Manesh Samtani | 20/08/2021

The BSP welcomed the move, saying the bill will provide the central bank tools to investigate illegal activity and improve the safety of the banking system.

Anti-Money Laundering

Darkweb Blockchain Analytics Tool Gets Shut Down

By Ranamita Chakraborty | 19/08/2021

A service that was being used by criminals to check whether their own bitcoin wallets were linked to criminal activity has been shut down.

Anti-Money Laundering

Hong Kong Passes Bill to Curb Illegal Wildlife Trade

By Ranamita Chakraborty | 19/08/2021

The bill enables law enforcement to inspect the IWT-associated financial flows of individuals and companies and confiscate their proceeds of crime.

Anti-Money Laundering

All VASPs Unprepared for New AML Rules, FSC Korea Finds

By Manesh Samtani | 18/08/2021

Even VASPs with real-name accounts in place do not have dedicated employees in place for AML or adequate systems for suspicious transactions reporting.

Anti-Money Laundering

AUSTRAC to Address SMR Pain Points in Reporting System

By Manesh Samtani | 18/08/2021

AUSTRAC will review the SMR report structure, improve the user interface of its reporting platform, provide more guidance and feedback to reporting entities, and improve reporting automation.