AML / KYC

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    AML / KYC

    FATF to Bring “Fundamental Change” to Financial Crime Fight

    By Karen Ng | 06/07/2023

    FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.

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    AML / KYC

    MAS Reports USD22.8 Billion Net Loss For FY2022/23

    By Ranamita Chakraborty | 06/07/2023

    MAS announced a net loss of SGD 30.8 billion (USD 22.8 billion), reflecting the effects of monetary policy tightening to bring down inflation.

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    AML / KYC

    Upper House of UK Parliament Approves Economic Crime Bill

    By Editors | 05/07/2023

    The bill will boost corporate transparency, enable more effective seizure and recovery of crypto assets, and introduce new ‘failure to prevent’ offences.

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    AML / KYC

    China Intensifies Efforts to Combat Tax Fraud

    By Editors | 03/07/2023

    The crackdown is focusing on major industrial and regional cases and professional criminal gangs.

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    AML / KYC

    AUSTRAC Spares Bell Financial from Further Regulatory Action

    By Sanday Chongo Kabange | 03/07/2023

    AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.

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    AML / KYC

    MAS Highlights Misuse of Legal Persons through Data Analytics

    By Jill Wong | 03/07/2023

    The MAS has published a paper to guide banks in using data analytics to detect and prevent the use of front companies to conceal illicit activities.

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    AML / KYC

    Australia Launches New National Anti-Scam Centre 

    By Sanday Chongo Kabange | 02/07/2023

    A ‘fusion cell’ is being set up within the NASC, led by the ACCC and ASIC, to target the effective disruption of investment scams.

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    AML / KYC

    Consultation Opens on Revisions to FATF Standards for NPOs

    By Editors | 01/07/2023

    The proposed amendments seek to address issues related to the over-application of preventive measures to the NPO sector, which hinders genuine non-profit activity.

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    AML / KYC

    Singapore Gets Tough on Money Laundering through Property

    By Karen Ng | 30/06/2023

    Lawyers talk to Regulation Asia about the implications of Singapore’s new property AML rules.

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    AML / KYC

    UK to Further Restrict Russian Access to Legal Services

    By Editors | 30/06/2023

    New law will prevent lawyers from advising Russian companies in international money lending and trade deals.

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