AML / KYC

EBA’s New AML Database Set to Start Receiving Personal Data

By Editors | 05/05/2024

EuReCA was launched by the EBA in January 2022, but has so far not yet been able to collect personal data from EU supervisors.

AML / KYC

Tether to Start Monitoring Secondary Market for USDT

By Editors | 04/05/2024

Through a partnership with Chainalysis, Tether will provide sanctions monitoring, an illicit transfers detection tool, and analysis on major USDT holders.

AML / KYC

New Zealand Regulators Issue Updated CDD Guidelines

By Editors | 03/05/2024

Updated guidelines on beneficial ownership, company CDD, and enhanced CDD. New guideline on CDD for limited partnerships.

AML / KYC

Australia: Scam Losses Fall for the First Time in Six Years

By Manesh Samtani | 03/05/2024

In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.

AML / KYC

Australia Consults on Anti-Foreign Bribery Guidance

By Editors | 03/05/2024

The consultation follows the passage of legislation in February to introduce the new “failure to prevent” foreign bribery offence.

AML / KYC

Singapore: Two More Sentenced in Money Laundering Case

By Nithya Subramanian | 03/05/2024

Cambodian Su Baolin and Chinese national Zhang Ruijin were sentenced to jail and required to forfeit a combined S$183mn in assets.

Enforcement

Canada’s FINTRAC Imposes AML Penalty on TD Bank

By Mark Johnston | 03/05/2024

The $6.7mn fine is the largest-ever levied by FINTRAC. TD Bank has separately provisioned $450mn for potential US penalties.

AML / KYC

China Issues New Rules on Beneficial Ownership Registration

By Manesh Samtani | 03/05/2024

The new regulations will come into effect on 1 November 2024. Existing in-scope entities will have until 1 November 2025 to register beneficial owner information.

Sanctions

US Senators Raise Concerns Over Iran’s Crypto Mining

By Editors | 03/05/2024

A letter from two US senators asks government officials about the steps being taken to address Iranian crypto mining and sanctions evasion.

AML / KYC

NZ Banks Set to Start ‘Confirmation of Payee’ Implementation

By Sanday Chongo Kabange | 03/05/2024

NZBA has identified a preferred provider for the service and will soon start the technical build for the payments system.

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