AML / KYC

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

By Editors | 19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Enforcement

Asian Police Bust Multi-Jurisdiction Malware Scam Syndicate

By Sanday Chongo Kabange | 18/06/2024

Police in Hong Kong, Singapore, Malaysia and Taiwan jointly targeted a group involved in malware-enabled scams.

AML / KYC

Japan to Tighten AML Controls to Target Organised Crime

By Manesh Samtani | 18/06/2024

Prompted by a $444mn money laundering case, Japanese regulators will ask banks to do more to detect criminal abuse of accounts.

AML / KYC

RUSI Identifies Typologies of Abuse of FATF Standards

By Manesh Samtani | 17/06/2024

RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.

AML / KYC

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

By Editors | 17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.

AML / KYC

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

By Editors | 16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

Crypto / Digital Assets

Japan Regulator Issues Orders Against Crypto Firm CoinBest

By Editors | 15/06/2024

CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

AML / KYC

US Repatriates Additional $156mn in 1MDB Funds to Malaysia

By Nithya Subramanian | 15/06/2024

To date, the US DOJ has repatriated to Malaysia a total of $1.4bn that was misappropriated from 1MDB.

AML / KYC

Singapore Govt Agencies to Use Common SMS Sender ID

By Nithya Subramanian | 14/06/2024

All government agencies in Singapore will use the same SMS Sender ID to safeguard the public against scams.