Anti-Money Laundering

    Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.

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    Anti-Money Laundering

    US DOJ Imposes $300m Penalty on Crypto Firm KuCoin

    By Nithya Subramanian | 28/01/2025

    KuCoin also agreed to exit the US market for at least the next two years, and to ensure two co-founders are not involved in management or operations.

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    Anti-Money Laundering

    Malaysia Investigating Banks Over Loan Fraud Scheme

    By Nithya Subramanian | 28/01/2025

    MACC has frozen funds linked to 98 bank accounts, arrested 21 individuals and seized luxury assets. 5-6 banks are being investigated.

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    Anti-Money Laundering

    UK FCA Calls on Brokers to Enhance AML Systems and Controls

    By Mark Johnston | 27/01/2025

    The FCA offers recommendations to improve risk assessments, KYC/CDD, governance, and transaction monitoring, among other areas.

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    Anti-Money Laundering

    US Congress Investigates Debanking of Tech and Crypto Firms

    By Thisanka Siripala | 25/01/2025

    House Oversight Committee has contacted executives in the crypto industry to gather their testimonies on bank account closures.

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    Fraud, Scams & Cybercrime

    UK FCA Calls on Firms to Improve Use of National Fraud Database

    By Mark Johnston | 25/01/2025

    FCA review found that some firms underutilise the NFD and don’t always report cases that meet the standard of proof required.

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    Anti-Money Laundering

    TD Bank’s Global Anti-Money Laundering Officer Steps Down

    By Thisanka Siripala | 24/01/2025

    The change is said to be part of broader leadership changes at TD Bank, aimed at restoring trust and strengthening its regulatory standing.

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    Credit Risk

    HKMA Publishes Banking Sector Priorities for 2025

    By Sanday Chongo Kabange | 24/01/2025

    The HKMA’s 2025 workplan includes measures to safeguard the banking sector from financial crime, credit risk and cyber risk.

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    PEPs & Sanctions

    Another US Court Rules Tornado Cash Sanctions Were Unlawful

    By Editors | 23/01/2025

    Court ruled that Tornado Cash smart contracts could not be classified as property IEEPA. A similar ruling was issued by a different court in November 2024.

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    Anti-Money Laundering

    Singapore Court Charges Ex-Filing Agent in $3b Money Laundering Case

    By Nithya Subramanian | 23/01/2025

    Former CSP director charged for falsifying company accounts, making false representations to authorities, and forging documents to cheat FIs.

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    Anti-Money Laundering

    Japan FSA Offers Guidance on Validating AML Effectiveness

    By Thisanka Siripala | 22/01/2025

    New discussion paper emphasises the importance of continuous validation to ensure AML/CFT measures remain effective against evolving risks

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