AML / KYC

AML / KYC

Mongolia Becomes First APAC Country to Implement All FATF Recommendations

By Ranamita Chakraborty | 03/08/2023

While the 40 FATF Recommendations are not legally binding international conventions, Mongolia sees full compliance as validation for its efforts to improve anti-money laundering capabilities.

AML / KYC

FSS Korea Confirms Embezzlement Case at BNK Kyongnam Bank

By Editors | 03/08/2023

A BNK Kyongnam Bank employee was found to have embezzled $44mn over 15 years by fabricating loan documents and using family accounts.

AML / KYC

SEBI Proposes Revising Account Aggregator Framework to Prevent Fraud

By Ranamita Chakraborty | 03/08/2023

Securities and Exchange Board of India (SEBI) found that certain consumers are sharing confidential information with third parties and providing financial data to unauthorised entities.

AML / KYC

HK Court Convicts 4 Ex-DBS Employees on Bribery Charges

By Sanday Chongo Kabange | 01/08/2023

The four former DBS employees were convicted for divulging confidential customer data to others for touting personal loans.

AML / KYC

MAS Proposes Framework for SFOs to Boost AML Measures

By Ranamita Chakraborty | 01/08/2023

The revised framework introduces a harmonised class exemption for single family offices (SFOs) with specific requirements to ensure that all SFOs are subject to anti-money laundering (AML) controls.

AML / KYC

SBV Issues Circular on Money Laundering Prevention and Control

By Mark Johnston | 01/08/2023

The circular specifies the obligations of reporting entities, including obligations to report high-value and suspicious transactions.

AML / KYC

India Supreme Court Criticises Government for Not Addressing Crypto Crime

By Editors | 01/08/2023

India’s Supreme Court asked the government whether it can establish a “national specialised agency” to investigate crypto-related crimes.

AML / KYC

US Senate Approves Defence Bill with Provisions Targeting Crypto Mixers

By Editors | 31/07/2023

The US Senate’s approval of the 2024 NDAA includes stringent provisions aimed at cryptocurrency mixers, marking a regulatory milestone.

Crypto / Digital Assets

Bendigo Bank Blocks “High-risk” Payments to Crypto Exchanges

By Editors | 31/07/2023

New rules for instant payments to crypto exchanges are designed to primarily target investment scams, Bendigo Bank said.