AML / KYC

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    Enforcement

    Former CEO of Aon Singapore Charged With Bribery

    By Nithya Subramanian | 09/02/2024

    Collin Chiew has been accused of receiving SGD 668,000 in bribes and faces five counts of corruption as well as a money laundering charge.

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    AML / KYC

    HKMA Directs Banks to Ensure Their CDD is “Risk-based”

    By Manesh Samtani | 09/02/2024

    Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.

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    AML / KYC

    ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

    By Editors | 07/02/2024

    Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

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    AML / KYC

    Singapore: ACIP Issues AML/CFT Guidance to Address CSP Risks

    By Nithya Subramanian | 07/02/2024

    New ACIP paper offers recommendations for banks that receive customer referrals from corporate service providers.

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    AML / KYC

    Iraq Bars Eight Local Banks from Accessing US Dollars

    By Editors | 06/02/2024

    The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.

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    Fintech / Regtech

    Singapore Strengthens Measures to Tackle AI Deepfakes

    By Nithya Subramanian | 06/02/2024

    Various government agencies and industry partners are working together to prevent the malicious use of deepfake technology.

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    ESG / Sustainability

    UK Environment Agency Launches Economic Crime Unit

    By Editors | 06/02/2024

    The unit will boost the Environment Agency’s efforts to tackle money laundering and carry out financial investigations in the waste sector.

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    Sanctions

    Iran Reported to Have Used UK Banks for Sanctions Evasion

    By Editors | 06/02/2024

    Iran allegedly used front companies in the UK to conceal real ownership and receive funds at accounts at two of the UK’s largest banks.

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    Enforcement

    US Unseals Charges Against Iranian Oil Trafficking Network

    By Editors | 05/02/2024

    Nine individuals were charged over the illicit sale of Iranian oil to government-linked buyers in Russia, Syria and China.

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    AML / KYC

    Korea Passes Amendment to Address Account Coercion Scams

    By Manesh Samtani | 05/02/2024

    The amendment would make it easier for victims of account coercion scams to lift account suspensions more quickly.

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