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Financial Crime
Fraud, Scams & Cybercrime
ASIC Shuts Off Access to 2,500 Scam and Phishing Websites
By Sanday Chongo Kabange | 03/11/2023
ASIC has a new website takedown service to remove or limit access to fraudulent and malicious websites on the internet.
PEPs & Sanctions
US Targets Entities in China, Turkey, UAE in Latest Round of Russia Sanctions
By Editors | 03/11/2023
US Treasury and State Departments sanction more than 200 targets in several countries, as US Commerce Department adds 13 Russian companies to its Entity List.
Anti-Money Laundering
Taiwan Arrests Suspects in Record Crypto Laundering Case
By Mark Johnston | 02/11/2023
A fake securities trading app was used to launder over USD 320 million via crypto in the largest case of its kind in Taiwan.
Anti-Money Laundering
AUSTRAC Establishes Operational Response To Israel-Gaza Conflict
By Sanday Chongo Kabange | 02/11/2023
AUSTRAC advises reporting entities to report any suspicious transactions they identify as part of the “important role” they play in stopping financial crime.
Anti-Money Laundering
China Jails 21 for Laundering USDT from Online Fraud, Gambling
By Mark Johnston | 02/11/2023
A group of 21 people in China laundered criminal proceeds from online fraud and gambling activities using USDT.
Anti-Money Laundering
Why Vigilance is Crucial in Compliance
By Ranamita Chakraborty | 02/11/2023
WRISE group head of risk and compliance and former police officer Gaven Koh discusses the need for heightened vigilance amid Singapore’s biggest money laundering scandal
Fraud, Scams & Cybercrime
Malaysian Court Orders Crypto Firm Luno to Compensate Customer
By Editors | 01/11/2023
Luno said the withdrawal of funds from the customer’s account was properly authorised. The customer claimed it was not.
Anti-Money Laundering
India Tightens Beneficial Interest Disclosure Rules for LLPs
By Ajoy K Das | 01/11/2023
The disclosures will ensure transparency of the identity of the ultimate person behind the LLPs including related party transactions.
Liquidity Risk
BOK, FSS Agree to Share Data on Non-bank Depository Institutions
By Editors | 01/11/2023
The MoU aims to enhance monitoring so BOK can quickly provide liquidity support to non-bank deposit institutions that run into trouble.
Anti-Money Laundering
FATF Consults on Amendments to Recommendation 25 Guidance
By Editors | 01/11/2023
The guidance will support implementation of the revised Recommendation 25, to help address risks from trusts or similar legal arrangements.
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