AML / KYC

AML / KYC

Australian Mining Magnate Charged Over A$38.5m Tax Evasion

By Sanday Chongo Kabange | 03/08/2021

The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.

AML / KYC

NZ FIU Calls on Industry to Ramp Up AML Efforts

By Manesh Samtani | 03/08/2021

The goal is to push criminals to the margins and into the hands of non-compliant operators, where law enforcement can be deployed more effectively.

AML / KYC

EBA Issues Guidance on Role of AML Compliance Officers

By Editors | 03/08/2021

Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.

AML / KYC

US House Bill Offers Regulatory Framework for Crypto

By Manesh Samtani | 02/08/2021

The bill would give the SEC authority over digital asset securities, the CFTC authority over digital assets, and the Fed authority to issue a digital dollar.

AML / KYC

Philippine AMLC Issues Guidance on TFS Delisting, Unfreezing Orders

By Sanday Chongo Kabange | 02/08/2021

Designated persons shall apply to the AMLC for authorisation if they wish to deal with or access funds or assets that are frozen due to targeted financial sanctions.

AML / KYC

Western Australia Man Jailed for Dealing in Criminal Proceeds

By Editors | 02/08/2021

The man was sentenced to five years jail over A$6.1mn in cash discovered as a result of intelligence gained during Operation Ironside.

AML / KYC

Fighting Financial Crime with Advanced Technologies

By Ashish Rai | 02/08/2021

AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

AML / KYC

AUSTRAC Consults on AML/CTF Rule Amendments

By Editors | 31/07/2021

The amendments allow FIs to carry out ACIP on a customer after an account is opened, provided the initial deposit is the only transaction made at opening.