AML / KYC

AML / KYC

ASIC Warns of Prevalence of Payment Redirection Scams

By Editors | 28/07/2022

The latest ACCC data shows that payment redirection scams caused the highest losses to businesses in 2021.

AML / KYC

Philippine Court Jails Seven Over Investment Scam

By Editors | 28/07/2022

Seven perpetrators of a PHP 3 billion investment scam were sentenced to 20 years in jail each on top of financial penalties. Four others remain at large.

AML / KYC

US Treasury Allows Payouts on Russia Bond CDS

By Editors | 28/07/2022

General licence authorises US persons to participate in auction processes and receive Russian bonds to settle CDS transactions with Russian entities.

AML / KYC

US SEC Issues Fines Over Identity Theft Prevention Programmes

By Editors | 28/07/2022

JP Morgan Securities will pay a $1.2mn penalty, UBS Financial Services will pay $925,000, and TradeStation Securities will pay $425,000.

AML / KYC

Taiwan Prohibits Credit Card Usage for Crypto Transactions

By Darien Choong | 28/07/2022

Credit card companies that process payments for transactions involving virtual assets will have three months to stop.

AML / KYC

FATF Issues Final AML Guidance for Real Estate Sector

By Editors | 27/07/2022

The guidance sets out the primary risks for the real estate sector and the measures needed to take adequately mitigate these risks.

AML / KYC

UK: Most Crypto Firms Simply Withdrew Their FCA Applications

By Mark Johnston | 26/07/2022

The FCA approved 35 crypto firms out of 273 that applied for registration with the FCA under AML regulations.

AML / KYC

UK Requires Crypto Firms to Report Sanctions Breaches

By Editors | 26/07/2022

New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.

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.