AML / KYC

AML / KYC

Taiwan Crypto Exchange Founder Charged for Money Laundering

By Nithya Subramanian | 12/04/2024

Taiwanese prosecutors have indicted the founder of ACE Exchange, David Pan, for a crypto fraud involving more than $10mn.

AML / KYC

HK Customs Arrests One in Largest Ever Gold Smuggling Case

By Sanday Chongo Kabange | 11/04/2024

The Customs and Excise Department has seized HKD 84 million worth of gold and arrested one person.

Fintech / Regtech

AI Deepfakes: An Insidious Threat and Real Challenge for FIs

By Nithya Subramanian | 11/04/2024

As regulators in Asia-Pacific take a range of approaches to tackle deepfakes, the evolving nature of this threat requires continuous vigilance and proactive measures from FIs.

AML / KYC

Taiwan FSC Calls for Greater Use of Technology to Combat Fraud

By Editors | 10/04/2024

The FSC brought together government agencies as well as the financial, telecommunications, and technology industries to discuss anti-fraud measures.

AML / KYC

Korea: Telecom and Financial Industries Join Forces to Combat Fraud

By Editors | 10/04/2024

Authorities overseeing both industries will quickly share new fraud methods with each other and disseminate this information to individual firms.

Sanctions

US Treasury Official Calls for Expanded Tools to Target Crypto

By Manesh Samtani | 10/04/2024

Without Congressional action, the use of virtual assets by terrorists, ransomware actors and rogue nations will only grow, said Wally Adeyemo.

Enforcement

Mossack Fonseca Trial Commences in Panama Over 2016 Document Leak

By Mark Johnston | 10/04/2024

The founders and other former representatives, lawyers and ex-employees of Mossack Fonseca face money laundering charges for a corruption scheme in Brazil.

AML / KYC

US Prepared to Sanction Chinese Banks That Aid Russian Military

By Editors | 09/04/2024

Janet Yellen said the US stands ready to act against “anything that involves aiding Russia’s military in their brutal war”.

AML / KYC

Malaysia Consults on Proposed Trust Companies Bill

By Editors | 09/04/2024

Since coming into force in 1949, Malaysia’s Trust Companies Act has only been reviewed once in 1973.