AML / KYC

AML / KYC

SC Malaysia Charges Three for Money Laundering Offences

By Sanday Chongo Kabange | 15/01/2024

The three individuals face a combined 28 money laundering charges over illegal proceeds totalling MYR 283.5 million.

AML / KYC

Singapore Police Using RPA Tech to Disrupt Scams

By Editors | 12/01/2024

RPA technology has enabled the Police to automate information sharing, information processing, and the mass distribution of SMS alerts.

AML / KYC

Wolfsberg Group Updates Guidance on Swift RMA Due Diligence

By Mark Johnston | 12/01/2024

The Wolfsberg Group has revised its guidance on Swift RMA due diligence, taking into account ISO 20022 migration.

AML / KYC

Transparency and Independent Oversight Main Issues of FATF: Experts

By Nithya Subramanian | 11/01/2024

A roundtable organised by RUSI concluded that marginal reforms aimed at improving transparency could be more successful and impactful.

AML / KYC

RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

By Ranamita Chakraborty | 11/01/2024

The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

AML / KYC

SFC Sanctions Responsible Officer Over Licensee AML Compliance Failures

By Sanday Chongo Kabange | 10/01/2024

The SFC suspended Andy Wong Yeung for 10 months over his role in City International Futures’ AML compliance failures.

AML / KYC

Singapore Tables Bill to Strengthen Measures Against PF Risk

By Editors | 10/01/2024

Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

AML / KYC

Vietnam: SBV Directs Banks to Strengthen AML Controls

By Sanday Chongo Kabange | 08/01/2024

The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

AML / KYC

KoFIU Unveils New AML Education Initiatives for Financial Industry

By Mark Johnston | 08/01/2024

Firms will be allowed to set training hours for employees based on position and duties, and KoFIU will introduce a new AML competency test.