19th October 2017
UPI The implementation of United Nations Security Council sanctions could block as much as $1.3 billion in capital inflows to North Korea, a South Korean analyst said Wednesday. Kang Sun-joo, a professor at the Korea National Diplomatic Academy in Seoul, said in a report released Wednesday the Security Council has… Read More
16th October 2017
The Reserve Bank of India (RBI) last week released a set of master directions for issuance and operation of Prepaid Payment Instruments (PPI), commonly known as wallets. With the previous directions released back in 2009, the new norms encompass interoperability (allowing wallets to transact with each other) and stricter KYC… Read More
16th October 2017
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017, also known as Australia’s “bitcoin bill”, has marked some important progress. Today, the Senate Legal and Constitutional Affairs Legislation Committee published its report on the bill making only two recommendations: some definitions should be clarified; and the bill should be… Read More
13th October 2017
South Korea’s tax agency said Friday it will crack down on tax evasion by big businesses and wealthy individuals to boost its tax revenue. The National Tax Service plans to thoroughly look into possible capital outflows by high-income earners and conglomerates and check moves to pass on managerial control of… Read More
13th October 2017
SKY NEWS A former Portuguese prime minister has been indicted on graft and money laundering charges as part of a vast corruption investigation. Jose Socrates has repeatedly denied wrongdoing and has dismissed charges contained in a more than 4,000-page indictment as politically motivated. Issued after a four-year inquiry, it accuses… Read More
12th October 2017
Sudan has for the first time in 20 years begun receiving foreign currency inflows, the central bank said on Wednesday, days after the US government lifted decades-old trade sanctions on the northern African country. A statement by the bank confirmed the receipt of international transfers in U.S. dollars to two… Read More
11th October 2017
11 October 2017 By David Martin, Deutsche Welle Germany’s Federal Criminal Police Office (BKA) has carried out its first investigation after purchasing the so-called Panama Papers from an anonymous informant earlier this year. According to German media, federal officers seized two million euros ($2.35 million) from an old slush fund… Read More
11th October 2017
10 October 2017 BBC The beleaguered credit reference agency Equifax has now admitted that 694,000 customers in the UK had their data stolen between May and July this year. The firm’s original estimate of its UK cyber-theft victims, made last month, was fewer, at nearly 400,000. Equifax now says that… Read More
11th October 2017
By Nate Raymond, REUTERS A Brazilian whose arrest led U.S. authorities to discover $17 million (£12.89 million) hidden under a mattress is expected to plead guilty on Wednesday after being charged with try to launder funds tied to one of the largest pyramid schemes ever. Cleber Rene… Read More
9th October 2017
9 October 2017 KYC360 News Britain is to establish a new court for economic fraud and cybercrime cases in London’s City district, which is home to leading technology, financial and professional service corporations. The proposed new combined court, which will also hear other criminal and civil cases, would see a… Read More