AML / KYC

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

AML / KYC

BSP Directs Banks to Prioritise PhilID in Customer KYC, Verification

By Editors | 15/03/2024

The BSP has identified the national ID, which is part of PhilSys, as a driver of financial inclusion in the Philippines.

AML / KYC

GCFFC Offers Guidance on Using AI to Fight Financial Crime

By Manesh Samtani | 15/03/2024

The guidance describes how FIs are using AI to fight financial crime and identifies opportunities to improve AML/CFT effectiveness.

AML / KYC

Use of AI for AML Could Lower Effectiveness: Report

By Bradley Maclean | 14/03/2024

A new report from NICE Actimize and Regulation Asia sheds light on APAC’s use of technology to fight financial crime.

AML / KYC

UK to Allow Banks to Pause Payments if Fraud is Suspected

By Manesh Samtani | 14/03/2024

Proposed legislation will allow banks to pause payments for up to 72 hours while they contact customers and relevant third parties like the police.

Enforcement

Global Leaders Announce International Pact to Combat Fraud

By Mark Johnston | 14/03/2024

The new international agreement includes the G7 and Five Eyes nations, along with Singapore and South Korea.

AML / KYC

US Court Convicts Alleged Founder of Crypto Mixer ‘Bitcoin Fog’

By Editors | 14/03/2024

Russian-Swiss national Roman Sterlingov was found guilty on four charges, though he maintained his innocence during the jury trial.

AML / KYC

Wolfsberg Group Issues Updated Statement on Terrorism Financing

By Manesh Samtani | 13/03/2024

The statement has been updated from the 2002 version to reflect changes in terrorism, CTF measures, and the evolving nature of public-private cooperation.

AML / KYC

HKMA to Establish Regulatory Sandbox for Stablecoin Issuers

By Sanday Chongo Kabange | 13/03/2024

The HKMA will use the sandbox to communicate supervisory expectations and guidance on the issuance of fiat-referenced stablecoins in Hong Kong.