Mike Meadon

🔍 HM Treasury's OFSI has published a Cryptoassets Threat Assessment guide. The UK’s Office of Financial Sanctions Implementation (OFSI) released a critical report highlighting threats to financial sanctions compliance in the cryptoasset sector. Here are the key points: 1️⃣ **Sanctions Evasion Risks**: Since 2022, designated persons (DPs), particularly Russian and DPRK-linked actors, have increasingly used cryptoassets to bypass UK sanctions, exploiting blockchain’s pseudonymous nature. 2️⃣ **Russian Exposure**: UK crypto firms face significant risks from direct/indirect exposure to the Russian exchange Garantex (designated in 2023) and its successor, Grinex, which facilitates illicit transactions, including via Ruble-backed stablecoin A7AS5. 3️⃣ **DPRK Cyber Threats**: North Korean hackers, including groups like Lazarus, pose a severe threat, with high-profile thefts (e.g., $1.5B from Bybit in 2025) and sophisticated money laundering via mixers, DEXs, and no-KYC platforms. 4️⃣ **Iranian Activity**: Iranian crypto firms, like Nobitex, with suspected links to designated entities (e.g., IRGC), are facilitating sanctions evasion, often using AI-generated IDs to bypass KYC checks. 5️⃣ **Compliance Red Flags**: Indicators like large transactions post-sanctions, use of privacy coins, mixers, DEXs, or transactions from sanctioned jurisdictions signal potential evasion, requiring enhanced due diligence. 6️⃣ **Regulatory Oversight**: Crypto firms must register with the FCA, comply with the Travel Rule, and report suspected breaches to OFSI and SARs to the NCA, referencing “OFSI Cryptoassets Threat Assessment - 0725.” 7️⃣ **Call to Action**: UK cryptoasset firms are urged to strengthen compliance through robust due diligence, monitor for red flags, and review OFSI’s guidance and resources to mitigate risks. 💡 **Why It Matters**: With 7% of OFSI’s suspected breach reports since 2022 involving crypto firms, this report underscores the need for vigilance to protect the integrity of UK financial sanctions. 📌 Read the full report for actionable insights: #CryptoCompliance #FinancialSanctions #OFSI #BlockchainSecurity

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The Bangkok panel discussion “Scams and Mules, the New Financial Crime Challenge” wrapped up on August 22nd with an important dialogue on disrupting financial crime. Moderated by Matthew Field, AML Market Director at NICE Actimize, the panel - featuring Rishi A., PWC Partner – South-East Asia Consulting, Joshua I. James, Regional Counter-Cybercrime Coordinator at United Nations Office on Drugs and Crime and Seehanat Prayoonrat, Ex-Secretary-General of AMLO - explored how scams and mule activity are evolving, the regulatory responses underway and how advanced technologies like AI can help firms and regulators stay ahead of risk. Learn more about how NICE Actimize supports firms in addressing these challenges. >> https://lnkd.in/dUJAEwZj #FinancialCrime #AML #FraudPrevention

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📣 News: Sygnum Bank and Incore Expand Partnership to Scale and Future-Proof B2B Digital Asset Banking   Since 2019, Incore Bank has been one of Sygnum’s partners for regulated traditional security custody and brokerage, as well as for providing secure custody for its portfolio of Asset Management products.   In a new expanded partnership, Incore Bank is strengthening and expanding its digital asset offering by leveraging Sygnum’s modular B2B digital asset platform and institutional-grade services. Incore network members will also receive early access to innovative new products and secure, future-proof infrastructure to cater for the next wave of asset class adoption.   🔗 Read the full announcement: https://lnkd.in/eTquHkfV Sygnum Bank: Mathias Imbach, Fritz W Jost, Martin Jost, Simon Kühne, Sai Agnikhotram, Dom Castley MBA MCIM Incore: Mark Dambacher, Roger Darin, Christian Bieri, Simone C. Drill #digitalassets #assetmanagement #FutureFinance Disclaimer: https://bit.ly/4edJA1v

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Digital assets move into mainstream banking at Standard Chartered Read the full article: https://bit.ly/4ncsOmW Rene Michau, group head of digital assets, explained the bank’s approach from early pilots to institutional-grade infrastructure, regulatory engagement and client-led adoption: 🔹 Crypto as infrastructure: Not a threat to banking but a new operating system. Failures like FTX, Michau argued, should be seen like Enron in energy corporate scandals, not invalidations of the system itself. 🔹 Stablecoins as a tipping point: Adoption is accelerating in corporate payments, FX and treasury. Ecosystems from PayPal to Visa are embedding them invisibly into mainstream commerce. 🔹 Tokenisation momentum: Money market funds are leading the way, with projects from Franklin Templeton, China AMC, UBS and others. 🔹 Regulation and trust: From MAS’s Project Guardian to BIS’s mBridge, Standard Chartered is working with regulators and institutions to embed innovation safely. Michau summed it up: “We follow our clients where they want to go, we operate within our licence, and we bring regulators on the journey.” Stripe, Shopify, Bank for International Settlements – BIS, Hong Kong Monetary Authority (HKMA), Monetary Authority of Singapore (MAS), Virtual Assets Regulatory Authority [VARA], U.S. Securities and Exchange Commission, U.S. Commodity Futures Trading Commission, Swift, Reserve Bank of Australia, Bank Negara Malaysia, South African Reserve Bank #DigitalAssets #Stablecoins #Tokenisation #Crypto #Innovation #BankingTransformation #TheAsianBanker #TABGlobal

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Australia is tackling a surge in illicit funds as global crime syndicates seek to exploit its stable economy and booming property market, ahead of the "Tranche 2" AML/CTF reforms. Brendan Thomas (AUSTRAC) Nathan Lynch #Australia #AML #CTF https://lnkd.in/dVEyTZS5

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Implementing an AML/CFT Policy Framework without a consistent approach is like crossing a road blindfolded. The inconsistencies lie in different practices followed by different branches, regions or teams, which lead to increased ML/TF risks. Our Checklist for Identifying Inconsistencies in AML/CFT Policy Implementation + RACI Matrix helps you stay consistent during the implementation of the AML/CFT Policy Framework. It covers: 🔹Identifying and mitigating gaps. 🔹Checking standard policies and procedures across all regions. 🔹Testing consistency and adequate reporting to the #SeniorManagement. 🔹#RACIMatrix for clear accountability. You have 100% open access – no form filing, no sign-ups. Your AML/CFT Policy should be a solid foundation; otherwise, it is just a house built on sand. Download and implement it to avoid inconsistencies during the implementation of the AML/CFT Policy Framework. 🌍 https://lnkd.in/daEQCBhb #AMLUAE #AMLCFT #AntiMoneyLaundering #FATF #AMLPolicy #KYC #RACI #FraudPrevention #ClientOnboarding #RiskManagement #AMLFramework

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Singapore's MAS is rolling out stricter AML/CFT regulations from 30 June 2025. Some of these regulations include: 👉Proliferation financing risk assessments 👉Enhanced checks for trusts and intermediaries 👉STR turnaround time reduced to 1–5 days The countdown is on—and compliance teams must act fast. At Facctum we enable proactive, jurisdiction-specific screening and reporting tools—ensuring your processes are always ahead of regulation. Don’t just adapt. Lead the way. DM us today to learn how we can help! #MAS #Singapore #AML #CFT #ComplianceUpdate #STR #Facctum

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The SRB publishes its Operational Guidance for Banks on Resolvability Self-Assessment, advancing #SRMVision2028. ✅ Simplified templates ✅ 20% fewer capabilities ✅ Biennial reporting This guidance helps banks document progress and test resolvability capabilities. First report due 31 Jan 2026. 📄 Read more: https://lnkd.in/eKaX-ajp

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The U.S. Treasury just sanctioned scam centers in Southeast Asia that prey on Americans, stealing more than $10B in 2024, a 66% year-over-year surge.   At F-Secure, we’ve long highlighted the scale of these networks. Our experts show how AI is making scams even more targeted and efficient:   "The pace and scale of scamming are increasing at such alarming rates, that even good defenses like consumer education and technical solutions can only go so far," said Megan Squire, F-Secure Threat Intelligence Researcher. "It is important for powerful entities like governments and tech companies to step in and do their part to fight fire with fire."   As scams grow more complex, AI-powered anti-scam technology is the edge service providers need to protect millions. Learn more here: https://lnkd.in/efQp_kwJ #FSecure #CyberSecurity #Scams

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💡 What does investor protection in an increasingly digital world look like? Custodians are no longer just safeguarding physical assets - they’re defending digital holdings against cyber threats and ensuring the integrity of ownership records in a fully dematerialised environment. Their fiduciary role has never been more critical. 🗣️ In a recent conversation with Sashi Krishnan, Director at National Institute of Securities Markets (NISM), Anand Rengarajan, who leads Sales for Trust & Securities Services for Asia Pacific, Middle East & Africa at Deutsche Bank, shares how custodians are evolving from traditional gatekeepers to digital-first enablers of market innovation. From managing T+1 settlement cycles and cross-border flows to ESG analytics and the tokenisation of conventional assets, Anand offers a forward-looking perspective on the future of custody. 📺 Watch the full interview here: https://lnkd.in/etf2TGDa Deutsche Bank Corporate Bank

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