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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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