AML / KYC

Philippine Government Agencies, Departments Ordered to Adopt New AML Strategy

By Ranamita Chakraborty | 07/07/2023

The Philippines is looking to remove itself from the Financial Action Task Force’s “grey list” by improving its efforts in anti-money laundering, counter-terrorism financing, and counter-proliferation.

Capital / Liquidity

BCBS Proposes Revisions to Core Principles for Effective Banking Supervision

By Manesh Samtani | 06/07/2023

The amendments cover a wide range of topics, addressing climate, digitalisation, interest rate risk, cyber risk, counterparty credit risk, and bank culture.

AML / KYC

India: Former Chair of Coop Bank Arrested on Fraud Allegations

By Sanday Chongo Kabange | 06/07/2023

India’s Enforcement Directorate arrested the ex-chairman of Seva Vikas Co-operative Bank in connection with a fraud investigation.

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.

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