AML / KYC

AML / KYC

FCA Gives Firms 6 Months to Address Financial Crime Concerns

By Editors | 07/03/2024

The regulator found controls that haven’t kept pace with business growth, firms that aren’t properly resourced, and failures to properly assess risks.

AML / KYC

AUSTRAC Launches AML Probe Into Gambling Company Bet365

By Sanday Chongo Kabange | 07/03/2024

The probe follows a Nov 2022 order from AUSTRAC requiring Bet365 to appoint an external auditor to assess AML/CTF compliance.

AML / KYC

Singapore ACRA to Streamline Corporate Regulatory Processes

By Nithya Subramanian | 06/03/2024

A tiered framework will be established to enable ACRA to disclose data to meet statutory obligations relating to anti-money laundering.

AML / KYC

Singapore Shell Companies Linked to Illicit Activity in India

By Nithya Subramanian | 06/03/2024

India’s Enforcement Directorate has uncovered a web of money laundering activities involving the use of shell companies from Singapore.

AML / KYC

Financial Crime Compliance Costs Grow in APAC: Study

By Nithya Subramanian | 06/03/2024

A study from LexisNexis Risk Solutions finds the higher costs are attributed to technology, labour, and the growing use of crypto and AI tech for illicit activities.

AML / KYC

Australia: NASC Warns of Deepfake Celebs Promoting Scams

By Sanday Chongo Kabange | 06/03/2024

Fake news articles and deepfake videos are being used to convince people to make online investments that turn out to be scams.

AML / KYC

Vietnam to Develop Legal Framework for Crypto by 2025

By Sanday Chongo Kabange | 05/03/2024

The government has directed the Ministry of Finance to develop a legal framework for banning or regulating virtual assets.

Crypto / Digital Assets

Cayman Islands Launches Crypto Consultation Using GitHub

By Nithya Subramanian | 05/03/2024

Software coding collaboration platform GitHub is being used for the first time to collate public feedback on the draft legislation.

AML / KYC

ASIC Shuts Down 3,500 Investment Scam Websites

By Nithya Subramanian | 05/03/2024

ASIC has broadened its focus to ensure that banks and superannuation trustees protect members from scammers, said Joe Longo.