AML / KYC

AML / KYC

FinCEN to Extend AML/CFT Requirements to Investment Advisers

By Editors | 14/02/2024

Investment advisers would have to implement risk-based AML/CFT programmes and report suspicious activity to FinCEN.

AML / KYC

New Study Initiated to Identify Kleptocracy Red Flags

By Nithya Subramanian | 14/02/2024

The study by the OCCRP, University of Exeter and University of Oxford will aid in developing anti-corruption rules and enhancing enforcement.

ESG / Sustainability

LME Facing Lawsuit Over “Dirty Metals” Sourced from Indonesia

By Editors | 14/02/2024

The case could force the LME to revisit its rules for listing metals for trading, the London Mining Network and Global Legal Action Network said.

AML / KYC

GCFFC Europe Chapter Sets Financial Crime Priorities for 2024

By Mark Johnston | 13/02/2024

The priorities include economic security, beneficial ownership, professional money launderers and public-private partnerships.

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

AML / KYC

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.

AML / KYC

New FinCEN Rule Targets Money Laundering in Real Estate

By Editors | 09/02/2024

Certain real estate professionals would be required to report all-cash transfers of residential real estate to legal entities or trusts.

Enforcement

Former CEO of Aon Singapore Charged With Bribery

By Nithya Subramanian | 09/02/2024

Collin Chiew has been accused of receiving SGD 668,000 in bribes and faces five counts of corruption as well as a money laundering charge.

AML / KYC

HKMA Directs Banks to Ensure Their CDD is “Risk-based”

By Manesh Samtani | 09/02/2024

Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.