Top stories this week:
HSBC Investigated for Potential AML Violations by Swiss and French Authorities | AUSTRAC Files Civil Penalty Proceedings Against Gaming Operator
Welcome to this week's edition of the KYC Roundup, your gateway to the most impactful developments in the world of Anti-Money Laundering (AML) and financial crime. In the AML arena, HSBC is under investigation for potential AML violations by Swiss and French Authorities, and AUSTRAC files civil penalty proceedings against a gaming operator.
In the fast-paced world of sanctions, Trump warns Russia of fresh sanctions if a ceasefire deadline is not met.
In the corruption space, the Ukrainian parliament has voted to restore anti-corruption agency powers.
We round off this week’s roundup with the full replay of our latest webinar, “How to Engineer Better Screening Outcomes Through Better Data.”
KYC & AML
HSBC investigated for potential AML violations by Swiss and French Authorities
Swiss and French authorities are investigating HSBC’s Swiss private bank for potential AML violations related to “two historical banking relationships.”
AUSTRAC files civil penalty proceedings against gaming operator
AUSTRAC has filed civil penalty proceedings against Mounties Group, one of Australia’s largest slot machine operators, over alleged serious breaches of AML/CTF regulations.
EBA warns of risks from careless use of innovative compliance tools
The European Banking Authority (EBA) has cautioned that financial institutions risk enabling money laundering and terrorist financing if they adopt innovative compliance tools without proper safeguards.
Louis Vuitton investigated over €3.5m luxury cash spend
Dutch authorities are investigating a money laundering case involving a Chinese national who spent €3.5 million in cash at Louis Vuitton. The luxury retailer is not accused of wrongdoing but has become central to the probe.
Sanctions
Trump warns Russia of fresh sanctions if ceasefire deadline not met
Donald Trump has issued an ultimatum to Russia, demanding it reach a peace deal with Ukraine by August 8 or face new U.S. sanctions.
Corruption
Ukraine parliament votes to restore anti-corruption agency powers
Ukraine’s parliament has voted to reinstate independence to its anti-corruption agencies after a controversial rollback prompted domestic protests.
KYC360 News
Webinar Replay: How to Engineer Better Screening Outcomes Through Better Data
In this webinar, Tom Devlin, Co-Founder and CCO at KYC360, takes an inside look at how improving data quality massively improves KYC screening outcomes.
You’ll learn why traditional approaches to screening are broken and how KYC360’s data-first approach eliminates false positives before they even occur. Discover how better data engineering leads to better results and how new features like alias screening put compliance teams in control.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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