International

Anti-Money Laundering

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.

PEPs & Sanctions

Russia, China Working on Regulations to Facilitate Barter Trade – Reports

By Editors | 10/08/2024

New regulatory arrangements being put in place are expected to enable barter deals between Russia and China involving agriculture “as soon as this autumn”.

Fraud, Scams & Cybercrime

UN Committee Approves Global Cybercrime Treaty Despite Opposition

By Manesh Samtani | 10/08/2024

The UN Convention against Cybercrime still needs to be ratified by at least 40 nations at the General Assembly in the fall.

KYC & CDD

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.

AI Risk & Governance

Google DeepMind Publishes Research on GenAI Misuse Tactics

By Nithya Subramanian | 09/08/2024

The researchers categorise GenAI misuse into two categories – exploitation of GenAI capabilities, and compromise of GenAI systems.

Fraud, Scams & Cybercrime

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”.

Fraud, Scams & Cybercrime

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.

Anti-Money Laundering

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.

Anti-Money Laundering

The Case for Change: Leveraging GenAI in Anti-Financial Crime

By Bradley Maclean | 07/08/2024

GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.