Anti-Money Laundering

Anti-Money Laundering

China: HNA Group Declares Bankruptcy, Reveals Embezzlement

By Editors | 03/02/2021

HNA Group has entered bankruptcy on the demand of creditors including Ping An Bank, Bank of Hainan, and Chang’an Bank.

Custody & Infrastructure

Thailand to Introduce Rules for Digital Asset Wallet Providers

By Editors | 02/02/2021

The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.

KYC & CDD

How Financial Institutions View Digital Identity: Survey

By Editors | 01/02/2021

RUSI and ACAMS have launched a new survey seeking to better understand the potential for digital ID to aid in the fight against financial crime.

Custody & Infrastructure

BSP Updates VASP Rules to Align with FATF Requirements

By Editors | 28/01/2021

The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.

Anti-Money Laundering

AUSTRAC Consults on AML/CTF Rules for Phase 1.5 Reforms

By Editors | 28/01/2021

The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.

Trade Based Money Laundering

Fighting TBML to Sustain a Post-pandemic Recovery in APAC

By Claus Christensen | 27/01/2021

As we inaugurate the next phase of international trade, the FATF is pushing trade-based money laundering to the top of the international community’s agenda, says Claus Christensen at Know Your Customer.

Anti-Money Laundering

Australian Police Arrest Dutch National on Money Mule Charges

By Editors | 27/01/2021

The 22-year-old was used to receive funds stolen from Australian bank accounts by a cybercrime syndicate before he transferred it overseas with Bitcoin.

Fraud, Scams & Cybercrime

Tokyo Police Arrest 31 Individuals Over 2018 Coincheck Heist

By Editors | 25/01/2021

The suspects were found to have traded stolen cryptocurrency on an underground exchange that emerged on the dark web following the Coincheck heist.

Anti-Money Laundering

BSP Highlights AML Risks of Cash, Cross-Border Payments

By Editors | 24/01/2021

Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.