AML / KYC

Securities / Derivatives

Singapore Sees Resurgence of ‘Pump and Dump’ Scams

By Editors | 11/08/2021

Seven victims recently bought more than 49,000 shares in a US-listed company based on the recommendation of an “expert” and lost over $1mn within two days.

AML / KYC

DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021

By Sanday Chongo Kabange | 11/08/2021

In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

AML / KYC

Chinese Nationals Face US Jail For Laundering Drug Money

By Editors | 11/08/2021

Six Chinese nationals face jail for conspiracy to launder money for El Chapo-linked drug cartels, using casinos, front companies, and false passports.

AML / KYC

SFC Finalises Investor ID, OTC Securities Reporting Regimes

By Manesh Samtani | 11/08/2021

The investor identification regime is expected to be launched in H2 2022. The securities transactions reporting regime will go live in H1 2023.

AML / KYC

RBNZ Issues Formal Warning to Westpac for AML Failures

By Editors | 11/08/2021

Westpac failed to report almost 8000 corporate transactions to overseas recipients between July 2018 and February 2019, the RBNZ said.

AML / KYC

North Korea Continues to Evade Sanctions – Report

By Editors | 10/08/2021

A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

AML / KYC

BSP to Finalise Members of Open Finance Body This Year

By Sanday Chongo Kabange | 10/08/2021

The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.

AML / KYC

China, UAE Agree to Exchange Intelligence on AML Investigations

By Editors | 09/08/2021

The FIUs in China and the UAE will exchange information on investigations concerning money laundering, terrorist financing, and the persons or entities involved.

AML / KYC

Good Intentions: The FATF Faces Its Own Unintended Consequences

By Tom Keatinge | 08/08/2021

The FATF’s unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.