AML / KYC

AML / KYC

Japan Cabinet Passes Bill to Strengthen AML System

By Editors | 18/10/2022

Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.

AML / KYC

HSBC Suspends Investment Services for Russian Clients in Hong Kong

By Editors | 18/10/2022

HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.

AML / KYC

Hong Kong Seeks Status as Global Hub for Virtual Assets

By Manesh Samtani | 17/10/2022

A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

AML / KYC

FCA Fines UK Challenger Bank for Weak AML Controls

By Editors | 17/10/2022

Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

AML / KYC

Thailand Creates Working Group to Tackle Social Media Scams

By Editors | 16/10/2022

Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.

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.