AML / KYC

AML / KYC

Mexico’s Elisa de Anda Madrazo Assumes FATF Presidency

By Manesh Samtani | 04/07/2024

Elisa De Anda Madrazo will serve as FATF President from July 2024 to June 2026, taking over from T. Raja Kumar of Singapore.

AML / KYC

FATF Plans to Update Guidance for Money Laundering NRAs

By Editors | 04/07/2024

The FATF aims to make NRA guidance “more effective, comprehensive and useful for all stakeholders involved”.

AML / KYC

Singapore Raises Fines for Money Laundering Breaches by CSPs

By Nithya Subramanian | 04/07/2024

Existing laws have been amended to ensure that nominee directors are deemed “fit and proper” and misuse of directorships can result in significant penalties.

AML / KYC

Singapore Introduces New Anti-Money Laundering Bill

By Nithya Subramanian | 04/07/2024

The new Anti-Money Laundering and Other Matters Bill aims to make it easier to prosecute money laundering cases and tightens casino rules.

Capital / Liquidity

US Regulators Announce $63m Settlement With Silvergate

By Manesh Samtani | 03/07/2024

Silvergate, once a popular bank for crypto firms, agreed to penalties for AML noncompliance and misleading statements to investors.

AML / KYC

Thai Regulators Ask Banks to “Strictly” Adhere to AML Law

By Nithya Subramanian | 03/07/2024

The Bank of Thailand and AMLO have asked financial institutions to follow enhanced due diligence procedures for both customers and their transactions.

AML / KYC

Singapore Withdraws Tax Incentives for SFOs in Money Laundering Case

By Nithya Subramanian | 03/07/2024

The total value of assets forfeited from convicted individuals with links to SFO funds far exceeds any tax benefits, said Gan Kim Yong.

AML / KYC

Nearly 4,000 Arrests Made in Global Anti-Scam Operation: INTERPOL

By Editors | 03/07/2024

The operation spanned 61 countries and resulted in 6,745 bank accounts being frozen and assets worth $257mn being seized.

AML / KYC

Panama Papers: Court Acquits All 28 Accused of Money Laundering

By Nithya Subramanian | 02/07/2024

According to media reports, the evidence presented was “not sufficient” to establish the defendants’ criminal responsibility.