AML / KYC

AML / KYC

China: NPC Standing Committee Reviewing Updates to AML Law

By Manesh Samtani | 04/11/2024

The revisions were first proposed in 2021 and have undergone two stages of review. This is expected to be the final stage of review.

AML / KYC

MAS Publishes Findings from Recent AML Inspections at FIs

By Manesh Samtani | 03/11/2024

The new information paper addresses customers with multiple nationalities, source of wealth establishment, and post-STR risk mitigation measures, among other areas.

AML / KYC

Singapore Launches Law Enforcement Strategy to Tackle Money Laundering

By Nithya Subramanian | 01/11/2024

The strategy identifies 4 focus areas and 10 key actions to ensure that law enforcement agencies remain at the forefront of AML efforts.

AML / KYC

FATF Upgrades South Korea on R.8 in New Follow-up Report

By Editors | 31/10/2024

The report says Korea has addressed several deficiencies in its AML/CFT framework that will help prevent the abuse of NPOs.

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.