AML / KYC

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    AML / KYC

    UK FCA Probes Lloyds Banking Group Over AML Controls

    By Mark Johnston | 26/02/2024

    Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

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    Enforcement

    MAS, SPF Probe Samlit Moneychanger for Fraudulent Activities

    By Nithya Subramanian | 26/02/2024

    The money remittance company has informed the Monetary Authority of Singapore that it is planning to surrender its payment services licence.

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    Crypto / Digital Assets

    HK Crime Cases Involving Crypto Have Tripled Since 2021

    By Mark Johnston | 25/02/2024

    The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

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    AML / KYC

    FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

    By Manesh Samtani | 23/02/2024

    Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

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    Enforcement

    US Unveils Five Enforcement Actions Involving Russian Oligarchs

    By Editors | 23/02/2024

    The actions, including charges against the CEO of Russia’s VTB Bank, were unveiled just ahead of the two-year anniversary of the war in Ukraine.

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    AML / KYC

    Three FIUs Issue Guidance on Russia Sanctions Evasion

    By Manesh Samtani | 23/02/2024

    The FIUs of Canada, Netherlands and Germany issued a joint advisory providing indicators to aid in the detection of dual-use goods trade involving Russia.

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    AML / KYC

    Frankfurt Selected to Host EU Anti-Money Laundering Authority

    By Mark Johnston | 23/02/2024

    Frankfurt was chosen following a competitive bidding process that involved eight other countries. The AMLA will start operations in mid-2025.

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    AML / KYC

    Hong Kong Launches Global Anti Corruption Academy

    By Sanday Chongo Kabange | 23/02/2024

    The academy will offer tailored training on corruption prevision and AML to officers from around the world.

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    AML / KYC

    Alternative Fund Managers Face Growing AML Risks: Study

    By Ranamita Chakraborty | 22/02/2024

    Several alternative fund firms faced AML fines and few were visited by regulators over money laundering concerns.

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    Crypto / Digital Assets

    Cybercrime Group LockBit Has Been Dismantled

    By Manesh Samtani | 21/02/2024

    Law enforcement from ten countries have disrupted the criminal operation of the LockBit ransomware group.

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