AML / KYC

AML / KYC

EU Adds Four Countries to List of Uncooperative Tax Jurisdictions

By Editors | 15/02/2023

BVI, Costa Rica, Marshall Islands and Russia were added to the list. Hong Kong and Malaysia were granted an extension to complete reforms.

Crypto / Digital Assets

North Korean Crypto Thefts Broke Records in 2022 – Report

By Mark Johnston | 14/02/2023

A UN report says North Korea stole more crypto in 2022 than in any previous year, using cyber techniques that have grown in sophistication.

AML / KYC

FCA Investigating Barclays for KYC and AML Incidents

By Editors | 14/02/2023

The FCA reportedly directed Barclays to undergo an independent review due to concerns about a large volume of KYC and AML incidents.

AML / KYC

Wolfsberg Group Updates CBDDQ, FCCQ, and Related Documents

By Editors | 13/02/2023

The CBDDQ updates include a new section on fraud and additional questions related to whistleblower policy, virtual bank licence, the approval of sanctions policy, and other changes.

AML / KYC

BIS Innovation Hub to Study Use of Data Technologies for AML

By Editors | 12/02/2023

Project Aurora will study privacy-enhancing technologies, machine learning methods, network analysis, the use of additional data sources, and “machine-readable typologies”.

Fintech / Regtech

EU Parliamentarians Back Eurozone Digital Wallet Framework

By Sanday Chongo Kabange | 12/02/2023

The EU Digital Identity Wallet, expected to go live in 2024, will make it possible to store personal credentials within a single digital ID.

AML / KYC

Japan FSA Issues Draft Rules for Travel Rule Implementation

By Editors | 10/02/2023

The rules will implement laws passed in Japan last year, establishing requirements for Japanese crypto firms to comply with the travel rule.

AML / KYC

HKMA Updates Guidance on Transaction Monitoring, Screening, Reporting

By Manesh Samtani | 10/02/2023

A key objective of the update is to support greater use of technology to generate targeted alerts and more actionable intelligence, the HKMA said.

AML / KYC

Swiss Prosecutors Investigate Credit Suisse’s 2022 Data Leak

By Sanday Chongo Kabange | 08/02/2023

The investigation centres on suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws.