AML / KYC

Enforcement

Singapore Court Sentences Money Mule to 10 Years Jail

By Nithya Subramanian | 25/04/2024

Muhammad Zahir Johana allowed his Singpass credentials to be used to open bank accounts that were used to receive scam proceeds.

AML / KYC

EU Parliament Adopts AMLD6 and Related Regulations

By Mark Johnston | 25/04/2024

The legislation now awaits formal adoption by the European Council before being published in the EU’s Official Journal.

Enforcement

US DOJ Proposes 36-Month Prison Sentence for Binance Founder

By Mark Johnston | 25/04/2024

The DOJ said the sentence must be significant to effectively punish Changpeng Zhao and to deter others who are tempted to break US laws.

AML / KYC

LSEG’s World-Check Data Breached by Hackers – Reports

By Mark Johnston | 24/04/2024

Hackers claim they have stolen data from LSEG’s World-Check database and have threatened to release records.

Enforcement

South Australia Proposes Higher Penalties for Casino Misconduct

By Nithya Subramanian | 24/04/2024

The proposed laws are expected to ensure a greater level of accountability and responsibility, and result in heftier fines for SkyCity.

AML / KYC

Commerzbank Fined in Germany for AML Violations

By Mark Johnston | 24/04/2024

BaFin said Commerzbank was slow to update customer data and inadequately applied enhanced due diligence requirements.

Crypto / Digital Assets

HK Customs Busts $230m Crypto Money Laundering Scheme

By Mark Johnston | 23/04/2024

Three suspects were arrested for orchestrating over 1,000 dubious transactions through 18 bank accounts linked to shell companies.

Crypto / Digital Assets

Thailand to Start Blocking Unlicensed Crypto Providers

By Sanday Chongo Kabange | 23/04/2024

Thailand’s SEC and MDES will start blocking unlicensed digital asset platforms in the country to curb money laundering and online crime.

AML / KYC

FATF Ministers Pledge Stronger Measures Against Financial Crime

By Mark Johnston | 23/04/2024

The FATF has published a Ministers’ Declaration to reinforce their commitment to combating financial crime.