AML / KYC

AML / KYC

PBOC to Regulate Large Cash Transactions in 2yr Pilot Programme

By Editors | 15/06/2020

Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.

AML / KYC

AUSTRAC Ups Ante in Westpac Money Laundering Case

By Editors | 14/06/2020

AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.

AML / KYC

Chinese Police Freeze 4,000 Bank Accounts in Crypto Probe

By Editors | 11/06/2020

Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.

AML / KYC

Korea: Details of 900,000 Credit Cards Leaked, Sold Overseas

By Editors | 09/06/2020

The leaked information included card numbers, expiration dates and the three-digit security code on the back of cards. About 410,000 of the leaked cards are still active.

AML / KYC

FSC Korea Launches Task Force on Identity Verification Systems

By Editors | 08/06/2020

The FSC supports the development of innovative authentication mechanisms that can provide convenience, safety and security in electronic financial transactions.

AML / KYC

Singapore to Tighten AML Rules for Casinos – Report

By Editors | 08/06/2020

Singapore’s legislated threshold for cash transactions that are subject to due diligence is higher than the $3,000 threshold set by the FATF.

AML / KYC

Typhoon Trump: Hong Kong Braces for US Sanctions

By Nick Turner | 08/06/2020

Nick Turner at Steptoe & Johnson discusses how sanctions could be imposed against Hong Kong. While current signs point to a limited US response, it’s best to be prepared.

AML / KYC

Europol Establishes New Financial and Economic Crime Unit

By Editors | 08/06/2020

The new unit will seek to support cooperation among EU law enforcement authorities, step up financial investigations, and cut off organised crime groups from their funding.

AML / KYC

‘Global Coalition to Fight Financial Crime’ Formally Launches

By Editors | 07/06/2020

The GCFCC’s members include the Atlantic Council, Crime Stoppers International, EBF, Europol, FFIS, Freedom Seal, GFI, IIF, MENA FCCG, Rani’s Voice, Refinitiv, RUSI, and World Economic Forum.