AML / KYC

    AML / KYC

    Australia Introduces Bill to Criminalise Cash Payments Over A$10,000

    By Editors | 22/08/2019

    Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.

    AML / KYC

    NTU Singapore to Develop New Tools to Fight Money Laundering

    By Editors | 22/08/2019

    Supported by the MAS and Singapore’s major banks, the project seeks​ to help wealth managers address money laundering risks with new AI and machine learning capabilities.

    AML / KYC

    The Long Arm of the Law

    By Eric A. Sohn | 19/08/2019

    Eric A. Sohn at Dow Jones Risk & Compliance discusses the US’ ability to restrict a firm’s access to correspondent banking services and its financial markets.

    AML / KYC

    Singapore Crypto Sector Consults on AML/CFT Code of Practice

    By Editors | 15/08/2019

    The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.

    AML / KYC

    Singapore Shell Companies Vulnerable to Money Laundering: MAS

    By Editors | 14/08/2019

    While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.

    AML / KYC

    Malaysia to Introduce e-KYC for Money Services Businesses

    By Editors | 13/08/2019

    BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.

    AML / KYC

    Malaysia Files Criminal Charges Against 17 Goldman Directors

    By Editors | 12/08/2019

    The current and former directors each face 1MDB-related charges carrying a maximum 10-year jail term and a minimum penalty of 1 million ringgit.

    AML / KYC

    Australia Records Decline in Payment Fraud Rates

    By Editors | 09/08/2019

    AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.

    AML / KYC

    UN Report: North Korea Still Accessing International Financial System

    By Editors | 09/08/2019

    The report says North Korea has amassed $2bn from cyberattacks on banks and crypto exchanges, and that it has about 30 overseas representatives helping it evade sanctions.

    AML / KYC

    Korea’s FIU Seeks Direct Supervision Over Crypto Exchanges

    By Editors | 08/08/2019

    Currently, the Financial Intelligence Unit only indirectly regulates cryptocurrency exchanges in Korea through the administrative guidance it issues for banks.

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