AML / KYC

AML / KYC

FATF Publishes Guidance on Conducting National Risk Assessments

By Editors | 08/11/2024

The guidance identifies prerequisites for a successful NRA and offers a structured approach for analysing money laundering threats, vulnerabilities, and risks.

Enforcement

PBOC Fines Two Leading Securities Firms for AML Violations

By Editors | 07/11/2024

The two firms were penalised for failures to properly identify customers and submit suspicious transaction reports, and for conducting transactions with unidentified customers.

AML / KYC

Singapore Publishes Proliferation Financing NRA and CPF Strategy

By Manesh Samtani | 07/11/2024

The document describes the PF risks Singapore faces, as well as its regulatory framework, risk mitigation measures, and national strategy to combat PF risks.

AML / KYC

Australia Introduces “Landmark” Anti-Scam Legislation to Parliament

By Sanday Chongo Kabange | 07/11/2024

The bill will establish a ‘scams prevention framework’ and introduce certain mandatory obligations for banks, telcos and social media platforms.

AML / KYC

FATF Upgrades South Africa on Three Recommendations

By Editors | 07/11/2024

The FATF said South Africa has made progress in addressing most deficiencies identified in its 2021 mutual evaluation report.

AML / KYC

MAS Announces Key Decisions on New AML Framework for SFOs

By Manesh Samtani | 07/11/2024

MAS has extended the timelines for single family offices to submit initial notifications and annual reports. The transitional period will be 1 year instead of 6 months.

AML / KYC

Singapore Court Jails Former Company Director for Money Laundering

By Nithya Subramanian | 07/11/2024

The former director allowed a Chinese money laundering syndicate to use company accounts in Singapore to receive proceeds of criminal conduct.

AML / KYC

Taiwan Showcases Financial Sector’s New Anti-Fraud Tech Projects

By Editors | 07/11/2024

The initiatives include a joint learning project aimed at enhancing the accuracy of fraud detection models, and the use of telco data to help identify payment and remittance fraud.

AML / KYC

Crystal Intelligence Highly Commended for Blockchain Analytics & Investigations Solution

By Editors | 05/11/2024

Crystal Intelligence Highly Commended in the Blockchain Analytics & Investigations Solution at the 2024 Regulation Asia Awards for Excellence