AML / KYC

AML / KYC

KoFIU Workplan for 2024 Has a Heavy Focus on Crypto

By Manesh Samtani | 15/02/2024

KoFIU will also block “unqualified operators” from entering the market and “expel unqualified operators that have already entered the market”.

Enforcement

India Arrests Three in Raids Against Cybercrime Syndicate

By Ajoy K Das | 14/02/2024

This is the first case where India’s Enforcement Directorate has used a complaint lodged overseas to register a PMLA case and seize proceeds of crime.

AML / KYC

US DOJ Secures Guilty Plea in Russia Sanctions Evasion Case

By Editors | 14/02/2024

A Canadian-Russian national helped ship US-origin electronic components that were later found in Russian weapons in Ukraine.

AML / KYC

FinCEN to Extend AML/CFT Requirements to Investment Advisers

By Editors | 14/02/2024

Investment advisers would have to implement risk-based AML/CFT programmes and report suspicious activity to FinCEN.

AML / KYC

New Study Initiated to Identify Kleptocracy Red Flags

By Nithya Subramanian | 14/02/2024

The study by the OCCRP, University of Exeter and University of Oxford will aid in developing anti-corruption rules and enhancing enforcement.

ESG / Sustainability

LME Facing Lawsuit Over “Dirty Metals” Sourced from Indonesia

By Editors | 14/02/2024

The case could force the LME to revisit its rules for listing metals for trading, the London Mining Network and Global Legal Action Network said.

AML / KYC

GCFFC Europe Chapter Sets Financial Crime Priorities for 2024

By Mark Johnston | 13/02/2024

The priorities include economic security, beneficial ownership, professional money launderers and public-private partnerships.

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

AML / KYC

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.