AML / KYC

IFSCA Issues Regulatory Framework for “BATF Services” in GIFT City

By Ajoy K Das | 11/06/2024

The IFSCA has notified a regulatory framework for book-keeping, accounting, taxation and financial crime compliance services offered at GIFT City.

Enforcement

Singapore Sentences 10th Individual in Money Laundering Case

By Nithya Subramanian | 11/06/2024

Su Jianfeng was sentenced to 17 months. Meanwhile, banks are tightening scrutiny of wealthy clients and providing additional training to staff.

Sanctions

OFAC Imposes New Sanctions Targeting Illicit Houthi Shipments

By Editors | 10/06/2024

The targets include four entities, including Hong Kong-, India- and Panama-based shipping companies and some of their vessels.

AML / KYC

TD Bank Facing $4bn in Fines for AML Violations – Report

By Editors | 10/06/2024

The amount is double previous estimates, prompted by the emergence of new bribery allegations against the bank.

AML / KYC

GCFFC APAC Chapter Publishes First Financial Scams Report

By Manesh Samtani | 10/06/2024

The GCFFC calls for the establishment of an international task force or body with a clear anti-fraud and scams mandate.

AML / KYC

Singapore Sentences 9th Individual in Money Laundering Case

By Manesh Samtani | 10/06/2024

Wang Dehai was sentenced to 16 months in prison; 17 other suspects at large overseas; Deposits involved in the case were held at 16 banks.

Fintech / Regtech

RBI to Set Up Digital Platform to Minimise Payment Fraud

By Ajoy K Das | 10/06/2024

The RBI said the platform will allow “network level intelligence and real-time data sharing across the digital payments’ ecosystem”.

AML / KYC

Australia Court Orders SkyCity to Pay A$67m AML Penalty

By Sanday Chongo Kabange | 07/06/2024

SkyCity’s failures “over many years allowed high-risk customers to move millions of dollars through the casino”.

AML / KYC

SEBI Directs KRAs to Integrate with Central KYC Registry

By Ajoy K Das | 07/06/2024

KYC Registration Agencies will have to integrate their systems with the CKYCRR and start uploading data from 1 August.

AML / KYC

Vietnam Death Row Tycoon Faces Money Laundering Charges

By Nithya Subramanian | 07/06/2024

Vietnamese police have concluded the second phase of their investigation into Truong My Lan, who was sentenced to death in April.

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