AML / KYC

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    Crypto / Digital Assets

    Nigeria Files Charges Against Binance & Executives

    By Editors | 31/03/2024

    One of the two Binance executives detained last month escaped custody. Both executives and Binance are accused of money laundering and tax evasion, among other charges.

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    AML / KYC

    Singapore: ACIP Sheds Light on Use of Data Analytics for AML/CFT

    By Manesh Samtani | 30/03/2024

    New paper discusses current and future uses of data analytics for AML/CFT, and how information shared over COSMIC could be leveraged to enhance such solutions.

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    AML / KYC

    MAS Extends Suspension on “Non-Specified Channels” for China Remittances

    By Ranamita Chakraborty | 30/03/2024

    Since the initial suspension in December, MAS has not received reports of remittances to China being frozen.

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    AML / KYC

    Australian Senate Passes Digital Identity Bill

    By Editors | 29/03/2024

    The Bill will allow myGovID to be used by the private sector, and accredited private sector IDs to be used for some government services.

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    AML / KYC

    FATF Re-rates Australia on Six Recommendations

    By Mark Johnston | 29/03/2024

    Australia was upgraded on five recommendations and downgraded on R.15 due to the limited scope of its regulatory regime for VASPs.

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    AML / KYC

    Wolfsberg Group Addresses Role of Internal Audit Function

    By Editors | 29/03/2024

    The Group offers a set of principles as guidance for the IA function to promote effective financial crime risk management within FIs.

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    Sanctions

    US, UK Probing $20b in Tether Transfers to Russia’s Garantex – Report

    By Editors | 28/03/2024

    There is no immediate suggestion of wrongdoing by Tether Holdings, the BVI-incorporated issuer of USDT.

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    AML / KYC

    Westpac Unveils “First of its Kind” Anti Scam Service

    By Sanday Chongo Kabange | 28/03/2024

    The AI-powered service will ask customers to answer a “series of dynamic questions” if a new payment appears to have high scam risk.

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    Fintech / Regtech

    US Treasury Publishes Report on AI-Specific Cyber Risks

    By Manesh Samtani | 28/03/2024

    The report outlines measures including the development of a common AI lexicon and a data lake to help FIs train AI models to detect fraud.

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    AML / KYC

    BIS Innovation Hub Launches New Phase of AML Project

    By Manesh Samtani | 28/03/2024

    Phase 2 of Project Aurora aims to, among other things, deliver real-world proofs-of-concept that could scale to a potential pilot.

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