AML / KYC

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

By Sanday Chongo Kabange | 02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

Crypto / Digital Assets

US Prosecutors Will Not Pursue Second Trial for FTX Founder

By Nithya Subramanian | 02/01/2024

The DOJ said a second trial to address additional charges against Sam Bankman-Fried would delay sentencing and provide no benefit to victims.

AML / KYC

Philippines Tightens Travel Rule Requirements for Crypto

By Editors | 01/01/2024

VASPs are expected to obtain, verify, and hold originator and beneficiary information for transactions with unhosted wallets regardless of the amount involved.

AML / KYC

India Blocks Nine Crypto Exchanges for Failure to Register

By Ajoy K Das | 29/12/2023

Binance, Kucoin and Huobi are among the platforms that have been blocked in India for not registering as reporting entities.

AML / KYC

Four Arrested in HK for Diamond-based Money Laundering Scheme

By Manesh Samtani | 28/12/2023

Hong Kong companies traded synthetic diamonds with a company in India but declared them as natural diamonds as a way to launder money.

AML / KYC

UK Proposes Measures to Improve Transparency of Land Trusts

By Mark Johnston | 28/12/2023

The UK government seeks feedback on options for improving transparency of land ownership involving trusts.

AML / KYC

Korean Banks Set to Start Compensating Customers for Fraud Losses

By Manesh Samtani | 28/12/2023

From 1 January 2024, customers who suffer losses from unauthorised electronic financial transactions will be able to seek compensation from banks.

Crypto / Digital Assets

Chinese Authorities Dismantle $2.2b Underground Banking Operation

By Editors | 27/12/2023

The operation involved the use of overseas crypto platforms to exchange foreign currency. 74 suspects were arrested and their electronic devices and bank cards seized.

AML / KYC

Wirecard Investors File Lawsuit Against EY in Munich

By Nithya Subramanian | 27/12/2023

The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.