AML / KYC

AML / KYC

US House Passes Bill to Combat Crypto-enabled Illicit Finance

By Nithya Subramanian | 23/07/2024

Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.

AML / KYC

Philippines Enacts Anti-Financial Account Scamming Act

By Editors | 22/07/2024

The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

AML / KYC

Philippine SEC Launches New Digital Services Platform

By Editors | 22/07/2024

The eSECURE platform will serve as a user’s digital passport to the different online services provided by the SEC.

AML / KYC

Singapore Says Jho Low Red Notice Remains in Effect

By Nithya Subramanian | 22/07/2024

Jho Low’s civil settlement with the US DOJ has “no bearing” on criminal investigations against him and his associates in Singapore.

AML / KYC

FATF Upgrades New Zealand on Five Recommendations

By Editors | 21/07/2024

Revised AML/CFT regulations adopted in June 2023 addressed most deficiencies in recommendations 14, 16, 18, 22 and 23.

AML / KYC

US Banking Regulators Propose to Update AML Requirements

By Editors | 21/07/2024

The Federal Reserve, FDIC, NCUA, and OCC said the amendments are intended to align with changes recently proposed by FinCEN.

AML / KYC

Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

By Editors | 20/07/2024

Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

Sanctions

OFAC Announces More Sanctions Targeting Houthi Funding

By Editors | 20/07/2024

The targets include individuals and companies based in Indonesia, Malaysia, Singapore, China, and the UAE, along with five vessels.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm ACE Exchange

By Editors | 19/07/2024

ACE Exchange failed to verify customer identities and to set different transaction monitoring thresholds based on customer risk levels, among other violations.