AML / KYC

Enforcement

Switzerland Announces $152mn Penalty Order Against Glencore

By Editors | 06/08/2024

The penalty order resolves a four-year criminal investigation into Glencore by Swiss and Dutch authorities.

AML / KYC

MAS Consults on Suspension of Certain China Remittance Channels

By Nithya Subramanian | 06/08/2024

MAS proposes to continue with the suspension announced last December and to expand its scope to include legal entities.

Enforcement

Singapore Recovers $40 Million in Email Scam Bust

By Nithya Subramanian | 05/08/2024

Collaboration between the SPF, Timor-Leste authorities and INTERPOL led to the largest business email compromise scam recovery.

Fintech / Regtech

RBI Proposes New Framework on Digital Payments Authentication

By Ajoy K Das | 04/08/2024

The draft framework would require all digital payment transactions to be authenticated with AFA unless otherwise exempted.

Enforcement

UK SFO Charges Ex-Glencore Employees Over Bribery Scheme

By Editors | 03/08/2024

Five former Glencore employees are charged with conspiring to make corrupt payments to benefit the company’s oil operations in West Africa.

Fintech / Regtech

RBI Issues Draft Rules for Aadhar-enabled Payment Systems

By Ajoy K Das | 03/08/2024

The draft rules focus on onboarding and ongoing due diligence of AePS touchpoint operators to prevent fraud.

Enforcement

US DOJ Launches Whistleblower Awards Pilot Programme

By Manesh Samtani | 02/08/2024

Whistleblower awards can be up to 30% of the first $100mn in assets forfeited and up to 5% of those between $100-500mn.

AML / KYC

HK Banks Extend Fraud Alerting Service to Counter Transactions

By Editors | 02/08/2024

HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.

Securities / Derivatives

SEBI Proposes Change to Granular Disclosure Rules for FPIs

By Ajoy K Das | 02/08/2024

The proposal will reduce the risk of hidden control by entities from land bordering countries, without requiring FPIs to disclose each and every owner.