AML / KYC

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    Enforcement

    US Man Arrested for Facilitating DPRK Remote IT Worker Fraud

    By Editors | 10/08/2024

    DOJ said Matthew Isaac Knoot enabled North Korean IT workers to work for US and UK companies from locations in China, and laundered money for them.

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    AML / KYC

    Cayman Islands: New Beneficial Ownership Regime Commences

    By Editors | 09/08/2024

    Beneficial ownership information will not yet be available to the public in light of the November 2022 ruling by the European Court of Justice.

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    AML / KYC

    Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

    By Sanday Chongo Kabange | 09/08/2024

    SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

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    Crypto / Digital Assets

    Singapore Court Sentences Crypto CTO for Investment Scam

    By Ranamita Chakraborty | 09/08/2024

    Wang Xinghong developed a crypto mining app that allowed A&A Blockchain to input fake numbers to misrepresent investor returns.

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    Crypto / Digital Assets

    India Has “No Proposal” to Regulate Crypto Beyond Tax, AML

    By Ajoy K Das | 09/08/2024

    MOF official told Parliament the government will coordinate with global standard-setting bodies before considering any measures domestically.

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    AML / KYC

    German Prosecutors Charge Two More Ex-Wirecard Execs

    By Ranamita Chakraborty | 08/08/2024

    The two executives allegedly breached their fiduciary duties by approving unsecured loans that were used to embezzle “several hundred million euros”.

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    AML / KYC

    HKMA Issues Circular on Changes to Tax Reporting Jurisdictions

    By Sanday Chongo Kabange | 08/08/2024

    The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.

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    Crypto / Digital Assets

    Australian Police Obtain New Intelligence on Crypto Scams

    By Sanday Chongo Kabange | 08/08/2024

    The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.

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    AML / KYC

    US, Germany Take Down Illicit Crypto Platform Cryptonator

    By Editors | 08/08/2024

    Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

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    AML / KYC

    India ED Has Pursued Over 5,000 ML Cases Since 2014

    By Ajoy K Das | 08/08/2024

    Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

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