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Financial Crime
Fraud, Scams & Cybercrime
ASIC Launches New and Improved Investor Alert List
By Editors | 08/11/2023
The list includes entities that are offering services to Australians without authorisation, as well as “impostor” entities and websites.
KYC & CDD
FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting
By Editors | 08/11/2023
Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.
Cryptocurrency
Investor Protection is Key to Singapore, Hong Kong Crypto Regulations
By Nithya Subramanian | 08/11/2023
As Singapore and Hong Kong regulators navigate the fast-changing digital assets landscape, investor protection takes centerstage.
Anti-Money Laundering
Malaysia Close to Settling Outstanding 1MDB Debts – Report
By Editors | 08/11/2023
Funds Malaysia will receive next year as part of a settlement with an Abu Dhabi state fund will give it enough to pay off 1MDB’s remaining debts.
PEPs & Sanctions
New York State Fines Payments Company for Weak Sanctions Controls
By Editors | 07/11/2023
Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.
Anti-Money Laundering
Seven FIUs Pledge to Collaborate Against Illegal Wildlife Trade
By Mark Johnston | 07/11/2023
The FIUs pledge to prevent, detect and disrupt financial activity linked to illegal wildlife trade.
Stablecoins
UK Regulators Set Out Roadmap for Regulating Stablecoins
By Manesh Samtani | 07/11/2023
The FCA and BOE published discussion papers outlining the UK’s proposed regulatory approach for regulating fiat-backed stablecoins.
Fraud, Scams & Cybercrime
Taiwan Financial Adviser Suspected of Colluding with Fraud Syndicates
By Editors | 07/11/2023
A former financial adviser of DBS Taiwan reportedly caused $1.5mn of losses to clients through collusion with criminal gangs and fraud groups.
PEPs & Sanctions
US Government Tells Banks to Watch for Signs of Export Controls Evasion
By Editors | 07/11/2023
Latest BIS-FinCEN alert introduces a new filing code for suspicious activity reports related to suspected export controls evasion.
PEPs & Sanctions
New OFAC Settlement Highlights Compliance for E-Commerce
By Editors | 07/11/2023
The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.
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