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AML / KYC
Singapore: SMS Sender ID Registration to Become Mandatory
By Editors | 15/10/2022
All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.
AML / KYC
Glencore Facing Investor Lawsuits Following Bribery Conviction
By Editors | 14/10/2022
Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.
AML / KYC
Switzerland to Commence Work on Creating UBO Register
By Editors | 14/10/2022
A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.
AML / KYC
US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions
By Editors | 14/10/2022
Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.
Enforcement
China to Prosecute Former China Merchants Bank President
By Editors | 12/10/2022
The former president was abruptly removed from his post in April, after spending nearly nine years building CMB into China’s top retail bank.
AML / KYC
US Treasury Penalises Crypto Exchange Bittrex $29mn
By Editors | 12/10/2022
OFAC and FinCEN took joint action for sanctions screening failures and violations of AML and SAR reporting requirements.
AML / KYC
Singapore Punishes Ex-BSI Banker Over 1MDB Failings
By Sanday Chongo Kabange | 11/10/2022
BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.
AML / KYC
US Targets Fuel Procurement Network in Latest DPRK Sanctions
By Editors | 11/10/2022
The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.
AML / KYC
US Says Hong Kong Risks Becoming Haven for Sanctioned Russians
By Editors | 11/10/2022
The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.
AML / KYC
HK Victims Have Lost HKD 2.6 billion to Scams This Year
By Editors | 10/10/2022
Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.
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