AML / KYC

AML / KYC

Unraveling the Web: How Complex Structures Can Undermine AML Compliance

By Nathan Lynch | 19/05/2025

Former APG executive secretary Gordon Hook highlights the need for vigilance and nuanced due diligence to combat illicit fund flows through complex corporate structures.

AML / KYC

FATF is the ‘Best Compass We Have’ for Fighting Financial Crime

By Manesh Samtani | 19/05/2025

Former FATF Executive Secretary David Lewis said the global body offers stability amid rising nationalism and geopolitical risks.

AML / KYC

Philippines Convenes First Meeting of New Anti-Scams Group

By Sanday Chongo Kabange | 18/05/2025

The ASTIG will enhance public awareness campaigns, foster stronger inter-agency cooperation, and empower local officials to better protect their communities

Enforcement

AUSTRAC Fines Cointree for Late Suspicious Transaction Reports

By Mark Johnston | 18/05/2025

Crypto exchange penalised for failing to submit SMRs on time on four occasions. AUSTRAC CEO said timely reporting is critical.

AML / KYC

Philippines AMLC Probes Alleged ML of Murdered Billionaire’s Ransom

By Nithya Subramanian | 16/05/2025

Authorities are investigating how PHP 200 million in ransom paid for kidnapped businessman Anson Que was laundered through casino junkets, e-wallets, and crypto.

AML / KYC

APAC Regulators to Collaborate on Online Investment Scams

By Sanday Chongo Kabange | 16/05/2025

The SFC said it has forged regional consensus on regulatory collaboration to combat online scams at IOSCO’s annual meeting.

AML / KYC

Global Consumer-Driven Fraud Surges in 2024: Report

By Thisanka Siripala | 16/05/2025

First-party fraud accounted for 36 percent of all fraud in 2024, up sharply from 15 percent in 2023.

AML / KYC

Australian Data Breaches Hit Record High in 2024

By Thisanka Siripala | 16/05/2025

There were 1,113 data breach notifications in 2024, a 25 percent increase from the incidents reported in 2023.

AML / KYC

HKMA to Help Banks Deploy AI for Transaction Monitoring

By Sanday Chongo Kabange | 16/05/2025

HKMA has received submissions from banks describing their progress to incorporate AI in their transaction monitoring systems.