AML / KYC

AML / KYC

US Jury Convicts FTX’s Sam Bankman-Fried on Fraud Charges

By Editors | 03/11/2023

Bankman-Fried faces up to 110 years in prison when he is sentenced in March. He also faces another trial for alleged foreign bribery and bank fraud conspiracies.

AML / KYC

ASIC Shuts Off Access to 2,500 Scam and Phishing Websites

By Sanday Chongo Kabange | 03/11/2023

ASIC has a new website takedown service to remove or limit access to fraudulent and malicious websites on the internet.

Enforcement

Taiwan Arrests Suspects in Record Crypto Laundering Case

By Mark Johnston | 02/11/2023

A fake securities trading app was used to launder over USD 320 million via crypto in the largest case of its kind in Taiwan.

AML / KYC

AUSTRAC Establishes Operational Response To Israel-Gaza Conflict

By Sanday Chongo Kabange | 02/11/2023

AUSTRAC advises reporting entities to report any suspicious transactions they identify as part of the “important role” they play in stopping financial crime.

Enforcement

China Jails 21 for Laundering USDT from Online Fraud, Gambling

By Mark Johnston | 02/11/2023

A group of 21 people in China laundered criminal proceeds from online fraud and gambling activities using USDT.

Big Picture

Why Vigilance is Crucial in Compliance

By Ranamita Chakraborty | 02/11/2023

WRISE group head of risk and compliance and former police officer Gaven Koh discusses the need for heightened vigilance amid Singapore’s biggest money laundering scandal

AML / KYC

India Tightens Beneficial Interest Disclosure Rules for LLPs

By Ajoy K Das | 01/11/2023

The disclosures will ensure transparency of the identity of the ultimate person behind the LLPs including related party transactions.

AML / KYC

FATF Consults on Amendments to Recommendation 25 Guidance

By Editors | 01/11/2023

The guidance will support implementation of the revised Recommendation 25, to help address risks from trusts or similar legal arrangements.

AML / KYC

FATF Issues Report on Crowdfunding for Terrorism Financing

By Editors | 01/11/2023

The report describes how terrorist groups exploit crowdfunding platforms and provides risk indicators and recommendations to help combat this activity.