AML / KYC

Fintech / Regtech

EU Commission Approves Pilot Use Cases for Digital ID Wallet

By Editors | 27/12/2022

The approved pilots cover payments, travel, and business compatibility. The EU Digital Identity Wallet is expected to go live in 2024.

AML / KYC

FTX, Alameda Execs Plead Guilty to US Fraud Charges

By Manesh Samtani | 23/12/2022

Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.

AML / KYC

Co-Founder of OneCoin Pleads Guilty to Fraud

By Editors | 22/12/2022

Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.

AML / KYC

Head of German FIU Resigns Over Secret SAR Backlog – Report

By Editors | 22/12/2022

The German FIU was sitting on more than 100,000 unprocessed SARs which it did not disclose to the FATF during its mutual evaluation.

AML / KYC

Bangladesh Banks Under Scrutiny for Alleged Loan Scams

By Editors | 22/12/2022

Bangladesh Bank directed five banks to submit daily reports on loan disbursements. Two of the banks have observers appointed to monitor operations.

Enforcement

US, Brazil Settle Honeywell Bribery Charges for Over $200m

By Editors | 22/12/2022

Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

AML / KYC

NZ FMA Takes Tiger Brokers to Court for AML Failings

By Editors | 22/12/2022

Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain appropriate records.

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Crypto / Digital Assets

US Lawmakers Introduce AML/CFT Bill for Crypto Firms

By Mark Johnston | 19/12/2022

The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.