AML / KYC

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    AML / KYC

    FATF Consults on Revisions to Promote Financial Inclusion

    By Manesh Samtani | 31/10/2024

    The proposed revisions aim to better promote financial inclusion through increased focus on proportionality and simplified measures in the risk-based approach.

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    AML / KYC

    Addressing Non-Latin Script Challenges in Name Screening and AML

    By Bradley Maclean | 31/10/2024

    As global financial crime becomes more complex, companies like Aereve are pioneering technologies to reduce false positives, enhance compliance, and mitigate risks.

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    AML / KYC

    25 New Charges Against Malaysia’s Najib Razak are Valid, Court Rules

    By Nithya Subramanian | 30/10/2024

    Former Malaysia Prime Minister Najib Razak will have to face four additional abuse of power charges and 21 additional money laundering charges.

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    AML / KYC

    Singapore Publishes National Anti-Money Laundering Strategy

    By Nithya Subramanian | 30/10/2024

    The new national AML strategy expands on a 2016 policy statement and introduces three building blocks and three supporting pillars to improve Singapore’s AML framework.

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    AML / KYC

    Bangladesh Bank Governor Alleges $17b State-Linked Bank Fraud

    By Nithya Subramanian | 30/10/2024

    Ahsan H Mansur alleged that Alam Group siphoned off $10bn from the banking system with help from the country’s military intelligence agency.

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    AML / KYC

    MAS Fines Atrium Asia Investment Management for AML/CFT Breaches

    By Nithya Subramanian | 30/10/2024

    The firm’s CEO was also reprimanded over failures to assess risks posed by customers, identify PEPs, and keep adequate records.

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    AML / KYC

    Hong Kong to Introduce Anti-Fraud Alerts on ATMs Next Year

    By Sanday Chongo Kabange | 29/10/2024

    Alerts will pop up for ATM users when they enter details of recipient accounts that have been flagged as “high risk” in the Scameter database.

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    AML / KYC

    Italy Uncovers Major VAT Fraud Linked to Chinese Money Laundering Network

    By Nithya Subramanian | 29/10/2024

    The operation spanned 20 Italian cities, leading to the seizure of high-end assets and the arrest of seven suspects, including two alleged ringleaders.

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    AML / KYC

    FinCEN Fines Hotel-Casino $900,000 for AML Failures

    By Thisanka Siripala | 27/10/2024

    Lake Elsinore Hotel and Casino in California failed to maintain an effective AML programme over a four-year period.

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    AML / KYC

    FATF Plenary Adds Four Countries, Removes One from Grey List

    By Manesh Samtani | 27/10/2024

    The FATF also revised its national ML risk assessment guidance, agreed to consult on revisions to support financial inclusion, and launched three new projects.

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