AML / KYC

AML / KYC

US ‘Gold Visa’ Proposal Appealing to Criminals: Transparency Int’l

By Nithya Subramanian | 28/02/2025

EU officials have previously warned that golden visa programmes could be used for money laundering, tax evasion and corruption.

AML / KYC

FATF Greylist Holds ‘Sting in Tail’ for Asia’s Developing Countries

By Nathan Lynch | 27/02/2025

The FATF’s decision to greylist Nepal and Laos raises questions about whether countries should be punished when they are clearly working on the required AML/CFT improvements.

Crypto / Digital Assets

Singapore Witnesses Record Number of Scam Cases in 2024

By Nithya Subramanian | 27/02/2025

Crypto-related scams accounted for a quarter of total losses, police believe. Investment scams ranked highest in terms of financial losses.

AML / KYC

US Authorities Impose $505m AML Penalty on Crypto Firm OKX

By Nithya Subramanian | 27/02/2025

The DOJ said OKX did not implement required AML policies, enabling over USD 5 billion in suspicious transactions to flow through its platform.

Enforcement

KoFIU Partially Suspends Upbit’s Business Over AML Violations

By Mark Johnston | 27/02/2025

Upbit is prohibited from transferring virtual assets for new customers for three months. Disciplinary action also taken against 9 employees.

AML / KYC

Philippine Lawmaker Proposes Bill to Establish Anti-Scam Centre

By Sanday Chongo Kabange | 27/02/2025

Senator Mark Villar said the proposed “Philippine Scam Prevention Center” will complement the recently enacted AFASA law.

AML / KYC

FATF Issues 2nd Consultation on Payment Transparency Standard

By Manesh Samtani | 26/02/2025

The proposed revisions aim to help make cross-border payments faster, cheaper, more transparent and inclusive whilst remaining safe and secure.

AML / KYC

Australia Court Orders Two Former Star Execs to Pay Fines

By Sanday Chongo Kabange | 25/02/2025

The Federal Court imposed monetary penalties against the two former executives and temporary bans on managing corporations.

Enforcement

Myanmar Begins Repatriation of Chinese Scam Centre Workers

By Nithya Subramanian | 25/02/2025

The move follows growing pressure from Beijing to shut down the criminal compounds, where trafficked workers run online fraud operations.