AML / KYC

AML / KYC

Singapore to Further Develop Financial Forensics Capabilities

By Editors | 03/02/2023

The Singapore Police Force and the Institute of Singapore Chartered Accountants will cooperate to advance the development of financial forensics in Singapore.

AML / KYC

UK Deadline Passes for Foreign Property Owners to Declare Identity

By Manesh Samtani | 02/02/2023

The register has so far established that various billionaire businessmen, political donors, criminals, and sanctioned individuals own UK property through offshore jurisdictions.

AML / KYC

UK Launches Consultation on Regulatory Framework for Crypto

By Manesh Samtani | 01/02/2023

The framework will require crypto exchanges to define token listing standards, strengthen rules for intermediaries and custodians, and introduce a crypto market abuse regime.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

AML / KYC

FINTRAC Issues Guidance on Detecting Illegal Wildlife Trade

By Editors | 01/02/2023

The guidance provides money laundering indicators based on analysis of approximately 200 STRs related to illegal wildlife trade between 2011 and 2022.

AML / KYC

Westpac Fined in Hong Kong Over Delayed Customer Reviews

By Editors | 31/01/2023

Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.

AML / KYC

UK Economic Crime Bill to Include New ‘Failure to Prevent’ Offences

By Manesh Samtani | 31/01/2023

Failure to prevent fraud, false accounting, and money laundering will become new corporate criminal offences in the UK.

AML / KYC

Korea Justice Ministry to Start Tracking Crypto Transactions

By Editors | 31/01/2023

The “Virtual Currency Tracking System” will be launched as part of a new cloud system that will allow other agencies to leverage prosecutors’ investigative and forensics expertise.

AML / KYC

International Counter Ransomware Task Force Begins Operation

By Editors | 30/01/2023

Australia is the inaugural chair and coordinator of the ICRTF, which will seek to drive international cooperation to tackle ransomware.