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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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