Anti-Money Laundering

Anti-Money Laundering

AUSTRAC Orders AML/CTF Audit of Mercedes Benz Financial Services

By Sanday Chongo Kabange | 15/05/2025

Almost 90 percent of non-bank lenders and financiers did not report a single suspicious matter to AUSTRAC in 2024.

Trade Based Money Laundering

Trading in the Dark: TBML in the Spotlight  for AML Compliance Teams

By Nathan Lynch | 15/05/2025

Robust TBML controls can help to protect banks and against fraud, sanctions violations, and systemic risks, writes Nathan Lynch.

Anti-Money Laundering

ABS Releases New AML/CFT Guidance for Wealth Management Sector

By Manesh Samtani | 14/05/2025

Two best practice papers were released, one on SoW due diligence and the other on risks in the wealth management sector.

Anti-Money Laundering

AUSTRAC Expands Data-Sharing Alliance to Combat Emerging Scams

By Manesh Samtani | 12/05/2025

AUSTRAC’s Fintel Alliance will expand to target money muling, micro-laundering, and other evolving financial crimes.

Anti-Money Laundering

Taiwan Central Bank Urges FX Rule Compliance After Currency Surge

By Manesh Samtani | 12/05/2025

The central bank identified companies and individuals that engaged in currency speculation by disguising foreign loans to bring funds into Taiwan.

Fraud, Scams & Cybercrime

Korea to Require Crypto Exchanges to Enforce Withdrawal Delays

By Manesh Samtani | 09/05/2025

Enforcing a delay before customers can withdraw virtual assets is expected to reduce losses from voice phishing incidents

Anti-Money Laundering

Project Aurora’s Vision for the Future of Financial Crime Prevention

By Bradley Maclean | 08/05/2025

Beju Shah discusses Project Aurora, which explores new ways of combatting money laundering taking a data driven approach.

Anti-Money Laundering

US Settles Credit Suisse Tax Evasion Probe Involving Singapore

By Nithya Subramanian | 07/05/2025

From 2014 to 2023, Credit Suisse’s Singapore branch held over USD 2 billion in undeclared accounts for US taxpayers.

Fraud, Scams & Cybercrime

Southeast Asia’s Evolving Scam Landscape: Brute Force and ‘Poly-Criminality’

By Nathan Lynch | 07/05/2025

Rebecca Miller discusses the evolution of scam centres in Southeast Asia and the role of the financial sector in combatting this crime.