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Financial Crime
PEPs & Sanctions
Canada Issues First Sanctions Over Settler Violence in West Bank
By Manesh Samtani | 17/05/2024
Four individuals were sanctioned for engaging in violence and violent acts against Palestinian civilians and their property.
Anti-Money Laundering
Malaysia Taking Steps to Enhance AML/CFT Regime
By Editors | 16/05/2024
Malaysian laws are being reviewed to address “gaps and implementation issues” and “elevate beneficial ownership reporting”.
Conduct, Culture & Accountability
ASIC Issues Guidance for Unlicensed Entities Soliciting Advice
By Sanday Chongo Kabange | 16/05/2024
The guidance warns of penalties for unlicensed entities that make unsolicited contact with consumers and refer them to third parties for financial advice.
Fraud, Scams & Cybercrime
Taiwan’s Yuanta Bank Fined for Embezzlement by Employee
By Nithya Subramanian | 16/05/2024
An employee privately negotiated repayment plans with customers and provided them a personal account for their debt repayments.
Anti-Money Laundering
Chinese Authorities Arrest Six in Crypto Money Laundering Scheme
By Nithya Subramanian | 16/05/2024
The suspects were involved in laundering CNY 2.14 billion through crypto transactions to South Korea.
Fraud, Scams & Cybercrime
CSRC Opens Investigation Into Hedge Fund Firm
By Editors | 16/05/2024
The investigation was prompted by reports that the firm’s controlling shareholder “ran away”.
Anti-Money Laundering
FinCEN, SEC Propose AML Rule for Investment Advisers
By Editors | 16/05/2024
The rule, if adopted, would require investment advisers to implement procedures for verifying the identity of each customer.
PEPs & Sanctions
US Official Warns of Sanctions Over India-Iran Port Deal
By Manesh Samtani | 15/05/2024
US State Department’s Vedant Patel said any business deals with Iran could be subject to the potential risk of sanctions.
KYC & CDD
SEBI Eases KYC Norms for Mutual Fund Investors
By Ajoy K Das | 15/05/2024
SEBI will allow investors to obtain a ‘KYC-Registered’ status even if their PAN and Aadhaar accounts are not linked.
Anti-Money Laundering
Singapore Makes Sixth Conviction in Money Laundering Case
By Nithya Subramanian | 15/05/2024
Turkish national Vang Shuiming was sentenced to “13 months and six weeks” imprisonment and required to forfeit S$179mn in assets.
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