AML / KYC

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    AML / KYC

    Chinese Authorities Arrest Six in Crypto Money Laundering Scheme

    By Nithya Subramanian | 16/05/2024

    The suspects were involved in laundering CNY 2.14 billion through crypto transactions to South Korea.

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    AML / KYC

    FinCEN, SEC Propose AML Rule for Investment Advisers

    By Editors | 16/05/2024

    The rule, if adopted, would require investment advisers to implement procedures for verifying the identity of each customer.

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    AML / KYC

    SEBI Eases KYC Norms for Mutual Fund Investors

    By Ajoy K Das | 15/05/2024

    SEBI will allow investors to obtain a ‘KYC-Registered’ status even if their PAN and Aadhaar accounts are not linked.

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    AML / KYC

    Singapore Makes Sixth Conviction in Money Laundering Case

    By Nithya Subramanian | 15/05/2024

    Turkish national Vang Shuiming was sentenced to “13 months and six weeks” imprisonment and required to forfeit S$179mn in assets.

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    AML / KYC

    FATF, UNODC, INTERPOL Issue Joint Call to Action

    By Editors | 14/05/2024

    Countries are asked to step up their efforts to target the illicit profits generated by transnational organised crime.

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    Enforcement

    Australian Court Dismisses Class Action Against CBA

    By Editors | 14/05/2024

    The class action alleged that CBA failed to disclose its AML contraventions for several years before it was eventually fined A$700m in 2018.

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    AML / KYC

    NZ Updates AML Guidance on Russia Sanctions

    By Sanday Chongo Kabange | 14/05/2024

    AML/CFT reporting entities that are duty holders under the Russia Sanctions Act must notify customers of asset freezes or blocked transactions.

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    AML / KYC

    Canada: FINTRAC Fines Binance for Regulatory Violations

    By Editors | 14/05/2024

    Binance failed to report almost 6,000 crypto transactions larger than CAD 10,000 over the two years to July 2023.

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    AML / KYC

    Singapore Jeweller Charged for Not Performing CDD Checks

    By Nithya Subramanian | 13/05/2024

    The jeweller failed to undertake customer due diligence checks when there was reason to suspect money laundering.

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    AML / KYC

    1MDB and Subsidiaries Sue Former PM’s Wife for $346mn

    By Nithya Subramanian | 13/05/2024

    The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.

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