AML / KYC

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    Crypto / Digital Assets

    Authorities Take Down “World’s Largest” Malicious Botnet

    By Editors | 30/05/2024

    US authorities, with international partners, arrested the botnet’s administrator and seized infrastructure and assets.

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    AML / KYC

    Hong Kong Arrest 20 in Triad-Run Money Laundering Scheme

    By Sanday Chongo Kabange | 28/05/2024

    The HKPF arrested 20 people for laundering HK$10mn through 17 bank accounts set up by foreign domestic helpers and controlled by triads.

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    Enforcement

    India Tightens Scrutiny of Foreign Beneficial Ownership

    By Ajoy K Das | 28/05/2024

    India’s Registrar of Companies has already imposed penalties on executives of Microsoft and others for violating beneficial ownership disclosure norms.

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    AML / KYC

    Bursa Malaysia Launches API Gateway to Streamline Onboarding

    By Nithya Subramanian | 28/05/2024

    The new API Gateway will streamline onboarding and speed up CDS account opening, updating and reactivation.

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    AML / KYC

    J5 Disseminates Risk Indicators Tied to Crypto Assets

    By Editors | 24/05/2024

    The risk indicators are intended to help financial institutions detect and report money laundering and illicit activities involving crypto assets.

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    AML / KYC

    Malaysia’s 1MDB Files Suit Against Top PetroSaudi Official

    By Nithya Subramanian | 24/05/2024

    The lawsuit seeks the return of $1.83bn, claiming 1MDB was misled into thinking King Abdullah owned a joint venture it invested in.

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    AML / KYC

    Singapore Secures Seventh Conviction in Money Laundering Case

    By Nithya Subramanian | 24/05/2024

    Cambodian national Chen Qingyuan, who is wanted in China, has been sentenced to a 15-month jail term and will forfeit S$21mn.

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    AML / KYC

    Australia: Scam Losses Have Declined Further

    By Sanday Chongo Kabange | 24/05/2024

    Losses reported to Scamwatch, AFCX and ReportCyber declined in the January to March quarter, compared to the previous quarter.

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    Enforcement

    Worldcoin Ordered to Cease Iris-Scanning in Hong Kong

    By Sanday Chongo Kabange | 24/05/2024

    The PCPD has determined that the Worldcoin project has breached Hong Kong’s personal data privacy law.

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    AML / KYC

    A Radical Re-think on Combatting Trade Based Money Laundering

    By Kelvin Toh | 24/05/2024

    Kelvin Toh discusses the factors hindering current efforts to combat TBML, and what more can be done to combat this activity.

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