AML / KYC

AML / KYC

PBOC Beijing Penalises Didi Pay for AML Violations

By Editors | 19/07/2022

The violations included failure to confirm the real identities of users, conduct checks on unusual transactions, and report major risks in a timely manner.

AML / KYC

New Zealand Court Dismisses Appeal of First AML Act Convictions

By Editors | 19/07/2022

Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.

AML / KYC

Scam Loss Sharing Framework Will Take Longer to Develop: MAS

By Editors | 19/07/2022

Developing the new framework is taking longer than expected due to the complexity of the issues involved and the importance of ensuring the framework has the correct incentives.

AML / KYC

BSP Issues Guidance on Conducting AML/CFT Risk Assessments

By Editors | 18/07/2022

The findings from institutional risk assessments should be used to enhance AML/CFT/CPF/sanctions compliance programmes and made available to the BSP during examinations.

AML / KYC

How North Korean Cryptocurrency Abuse Is Expanding

By Sasha Erskine | 18/07/2022

Countries must secure new and emerging gateways that are used to circumvent sanctions, as North Korea’s exploitation of cryptocurrency continues.

AML / KYC

Sanctions Over-Compliance Causes Human Rights Violations: UN Expert

By Editors | 18/07/2022

UN Special Rapporteur Alena Douhan says governments and FIs should be doing more to ensure over-compliance with sanctions does not negatively impact human rights.

AML / KYC

NSW Authorities Inquire Into Money Laundering via Gaming Machines

By Editors | 17/07/2022

NSW Crime Commission issued new papers as part of an inquiry into money laundering via electronic gaming machines at pubs, clubs and hotels.

AML / KYC

Fraudulent Transactions Cost 4x the Loss Amount on Average

By Editors | 14/07/2022

Every $1 lost to fraud costs organisations an average of $3.99 in APAC, and around $6.33 for digital banks and alternative lenders, LexisNexis Risk Solutions finds.

AML / KYC

UK Issues Guidance on Preventing Sanctions Evasion

By Editors | 14/07/2022

London-based enablers are “almost certain” to be in senior positions within their company or business, says a red alert from the NCA and OFSI.