AML / KYC

AML / KYC

FATF Offers Guidance on Private Sector Information Sharing

By Editors | 25/07/2022

The report features information sharing case studies from the UK, Singapore, Netherlands, the US, Estonia, and Germany.

AML / KYC

Russia Creates Hurdles for Foreign Banks Trying to Exit

By Manesh Samtani | 24/07/2022

Societe Generale is the only major bank that has exited Russia so far. HSBC has struck a deal to sell its Russian business but will need regulatory approval.

AML / KYC

US Recovers Crypto Ransoms Paid by Healthcare Providers

By Editors | 23/07/2022

The FBI seized about USD 500,000 from two crypto accounts that had received ransoms paid by US health care providers to North Korean hackers.

AML / KYC

HKMA, Cyberport Jointly Promote Use of AML RegTech

By Editors | 22/07/2022

HKMA, Cyberport and Deloitte co-organised the second AMLab, focusing on low-barrier technologies such as RPA and visualisation tools.

AML / KYC

ACCC Chair Calls for Joint Response to Financial Scams

By Sanday Chongo Kabange | 21/07/2022

ACCC chair Gina Cass-Gottlieb says banks have a responsibility to protect customers from investing in scam cryptocurrency schemes.

AML / KYC

India, Indonesia to Work Towards Establishing Payment Linkages

By Editors | 20/07/2022

The RBI and Bank Indonesia will cooperate in areas such as cross-border payments, digital innovation, and AML/CFT.

AML / KYC

PBOC Beijing Penalises Didi Pay for AML Violations

By Editors | 19/07/2022

The violations included failure to confirm the real identities of users, conduct checks on unusual transactions, and report major risks in a timely manner.

AML / KYC

New Zealand Court Dismisses Appeal of First AML Act Convictions

By Editors | 19/07/2022

Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.

AML / KYC

Scam Loss Sharing Framework Will Take Longer to Develop: MAS

By Editors | 19/07/2022

Developing the new framework is taking longer than expected due to the complexity of the issues involved and the importance of ensuring the framework has the correct incentives.