All posts tagged "Suspicious transactions"
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178AML / KYCHong Kong: Six Arrested for Laundering HK$2.5bn
The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.
April 26, 2021 -
170AML / KYCFSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’
The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.
April 21, 2021 -
242AML / KYCSFC Fines Yardley Securities for AML/CFT Breaches
Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.
March 18, 2021 -
211AML / KYCFSC Korea Proposes New Penalty Standards for VASPs
FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
March 11, 2021 -
341AML / KYCSingapore Banks Asked to Monitor Myanmar Fund Flows
MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.
March 5, 2021 -
227AML / KYCPhilippine AMLC Sets Deadline for Newly Covered Entities to Register
Real estate developers and brokers, as well as offshore gaming operators and their service providers, have to register with the AMLC’s electronic reporting system by 16 March.
February 27, 2021 -
137AML / KYCBSP Warns Banks Against Unlicensed Gaming Operators
FIs should ensure they have robust risk management and due diligence frameworks in place to prevent transactions with illegal online gambling operators.
February 11, 2021 -
236EnforcementLeaked Report Reveals Credit Suisse Culpability in Lescaudron Fraud
The case involved Patrice Lescaudron, a French banker who was jailed for defrauding clients in 2018 before committing suicide last year following his early release.
February 10, 2021 -
338ChinaPBOC Penalises Tenpay, Three Others for Violations – Report
Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.
January 7, 2021 -
1.1KAML / KYC
Philippines Approves House Bill to Strengthen AML Law
The amendments will bring precious metals dealers, casinos and real estate brokers and developers into scope under the Anti-Money Laundering Act.
November 27, 2020
