Financial Crime

PEPs & Sanctions

Canada Sanctions Chinese, Russian Officials for Human Rights Abuses

By Editors | 11/12/2024

The sanctions were announced to mark International Human Rights Day. China said the sanctions violate international law.

Fraud, Scams & Cybercrime

US Regulator Places Google Payment Corp Under Supervision

By Thisanka Siripala | 11/12/2024

Google Payment Corp says the consumer complaints cited by the CFPB are based on a discontinued service that no longer poses a risk.

Anti-Money Laundering

US Lawmakers Allege Widespread Abuse of BSA for Surveillance

By Thisanka Siripala | 11/12/2024

The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.

PEPs & Sanctions

UK, US Issue Sanctions for Illicit Gold Trading, Human Rights Abuses

By Editors | 10/12/2024

The dozens of sanctions targets include a British-Kenyan businessman who ran a global gold smuggling and money laundering network in Zimbabwe.

Anti-Money Laundering

Egmont Group Offers Guidance to FIUs on Conducting NRAs

By Manesh Samtani | 10/12/2024

New Egmont Group report discusses best practices for identifying ML/TF risks, common challenges experienced in NRAs, and strategies for ensuring success.

KYC & CDD

Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies

By Sanday Chongo Kabange | 09/12/2024

Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.

KYC & CDD

FATF Should Recognise ‘Alternative Measures’ to Promote Inclusion

By Manesh Samtani | 09/12/2024

The Wolfsberg Group says the FATF standards should explicitly recognise and encourage “alternative measures” such as limited-purpose account types and tailored monitoring.

Market Abuse

FSC Korea Refers First Finfluencer Cases for Prosecution

By Editors | 09/12/2024

The FSC said the finfluencers pre-purchased stocks and then recommended and sold those stocks to their subscribers to make unfair profits.

Anti-Money Laundering

HKMA Fines China CITIC Bank for Transaction Monitoring Deficiencies

By Sanday Chongo Kabange | 08/12/2024

The HKMA said 13 out of a total of 33 detection rules and two core model rules had not been implemented as intended.