AML / KYC

AML / KYC

Singapore Court Jails Money Mule for Over 3.5 Years

By Ranamita Chakraborty | 13/04/2021

The woman received more than S$730,000 in criminal proceeds in various bank accounts she set up for her “online lover”.

AML / KYC

RBNZ Establishes Standalone Enforcement Department

By Ranamita Chakraborty | 13/04/2021

The new department will work to incentivise and manage prudent behaviour as well as hold institutions to account for non-compliance.

AML / KYC

Singapore Court Charges Five Over Shell Company Activity

By Ranamita Chakraborty | 12/04/2021

Between 2016 and 2019, eight police reports were filed by victims who were deceived into wiring around $1.7mn into the bank accounts of Singapore-registered shell companies.

AML / KYC

SEC Thailand Allows Crypto Exchange Bitkub to Resume Services

By Editors | 12/04/2021

Bitkub has been allowed to resume accepting new clients. A warning was issued against Binance. Huobi was ordered to suspend services.

AML / KYC

FATF President Calls for Rethink of Regulatory Culture

By Manesh Samtani | 09/04/2021

Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.

AML / KYC

Sydney Court Jails Man for Cryptocurrency Money Laundering

By Sanday Chongo Kabange | 08/04/2021

The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.

AML / KYC

Philippines Expands AML Rules to Financing, Lending Firms

By Ranamita Chakraborty | 08/04/2021

All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.

AML / KYC

FinCEN Consults on Beneficial Ownership Reporting Requirement

By Editors | 08/04/2021

FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.

AML / KYC

Japan Crypto Industry to Adopt Travel Rule by April 2022

By Sanday Chongo Kabange | 07/04/2021

The FSA has written to the JVCEA advising it to start preparing for the implementation of the travel rule in Japan’s crypto industry.