Financial Crime

PEPs & Sanctions

Belgian Authorities Arrest Six Over Russian Diamond Imports

By Editors | 27/03/2024

The arrests, which reportedly include some Indian traders, followed the seizure of millions of euros worth of Russian diamonds last month.

Anti-Money Laundering

MAS Requiring Family Office Applicants to Respond to Queries Faster

By Ranamita Chakraborty | 27/03/2024

A 30-day deadline is being reportedly imposed for responses to queries from the regulator. Late responses could result in application dismissal.

Anti-Money Laundering

US Authorities Announce Charges Against Crypto Exchange KuCoin

By Editors | 27/03/2024

Four KuCoin units and two founders were charged by the CFTC and DOJ for serving US clients without registering and for AML-related violations.

PEPs & Sanctions

OFAC Unveils More Sanctions Over Iran Commodity Shipments

By Editors | 26/03/2024

The sanctions target a Lebanon-based financial facilitator, two vessels, and entities registered in Liberia, India, Vietnam, and Kuwait.

KYC & CDD

ASIC Takes First Action for Failure to Obtain Director ID

By Sanday Chongo Kabange | 26/03/2024

Under 2021 reforms, all directors are required to verify their identities with Australian Business Registry Services and obtain a director ID.

Anti-Money Laundering

Netherlands: Trial Against Tornado Cash Co-founder is Underway

By Editors | 26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.

Anti-Money Laundering

Bring Environmental Crime Back into Policy Spotlight: World Bank

By Editors | 26/03/2024

World Bank blog post calls for increased coordination between money-laundering prevention and environmental protection agencies.

Fraud, Scams & Cybercrime

Malaysia SC Enhances PLC Surveillance With AI Technology

By Editors | 26/03/2024

An internally developed AI-powered tool called ‘PLC360’ can predict the likelihood of misconduct and identify emerging trends and supervisory concerns.

PEPs & Sanctions

OFAC Sanctions Crypto Targets Over Russia Sanctions Evasion

By Editors | 26/03/2024

The sanctioned entities either helped build or operate blockchain-based services or enabled virtual currency payments in the Russian financial sector, enabling potential sanctions evasion.