Anti-Money Laundering

Anti-Money Laundering

Luxembourg Court Fines Edmond de Rothschild in 1MDB Case

By Nithya Subramanian | 26/05/2025

Investigations revealed that 1MDB funds wound up in accounts at the bank opened by a UAE national using offshore companies.

Fraud, Scams & Cybercrime

Thai Police Arrest Three Bank Employees for Aiding Scammers

By Mark Johnston | 26/05/2025

The bank employees reportedly helped Chinese scammers open bank accounts which enabled them to withdraw scam proceeds.

Fraud, Scams & Cybercrime

Korea, UNODC Partner to Tackle Transnational Crime

By Manesh Samtani | 25/05/2025

Korea’s National Police Agency and UNODC signed an MoU to formalise collaboration to combat transnational organised crime in Southeast Asia.

Anti-Money Laundering

HK Police Busts Cross-Border Money Laundering Syndicate

By Sanday Chongo Kabange | 22/05/2025

HKPF arrested 10 suspects linked to a money laundering operation involving stooge accounts in Hong Kong and Mainland China.

Anti-Money Laundering

SFC Imposes 5-Month Ban on Former Lion Futures Director

By Sanday Chongo Kabange | 22/05/2025

The SFC banned a former MIC for five months over his role in Lion Futures’ failure to comply with AML/CFT requirements between 2017 and 2019.

Anti-Money Laundering

China Issues Draft AML Rules for Accounting Firms for Consultation

By Mark Johnston | 22/05/2025

The draft regulation requires accounting firms to verify client identities, conduct due diligence before providing services, and report suspicious transactions.

Anti-Money Laundering

Korea Tightens Crypto AML Rules Ahead of Institutional Opening Up

By Manesh Samtani | 21/05/2025

South Korea is enhancing AML requirements ahead of opening up its virtual asset market to broader institutional participation, starting with NPOs and crypto exchanges.

Anti-Money Laundering

FINMA Fines Julius Baer Over High-Risk Client Breaches

By Nithya Subramanian | 21/05/2025

Julius Baer has been fined CHF 4m over AML failures linked to high-risk clients in India, Singapore, and other branches.

Anti-Money Laundering

Bangladesh to Establish Fund for Recovered Laundered Money

By Mark Johnston | 21/05/2025

Bangladesh is taking steps to recover laundered funds, with plans to allocate the money to affected banks and the nation’s poor.