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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    Supervision & Enforcement

    UK FCA Finalises Updates to Financial Crime Guide

    By Editors | 04/12/2024

    The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

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    Anti-Money Laundering

    Australian Police Dismantle Money Laundering Syndicate

    By Sanday Chongo Kabange | 03/12/2024

    The AFP has arrested four men and dismantled an organised crime syndicate that allegedly laundered A$10mn of criminal proceeds.

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    Anti-Money Laundering

    Lombard Odier, Ex-Banker Indicted in Swiss Money Laundering Case

    By Nithya Subramanian | 03/12/2024

    Swiss prosecutors alleged that Lombard Odier and one of its former RMs concealed dirty funds and engaged in “aggravated money laundering”.

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    Cryptocurrency

    Taiwan FSC Launches New Registration System for VASPs

    By Manesh Samtani | 02/12/2024

    The FSC also released guidelines for firms providing virtual asset services and launched a “Virtual Asset Custody Services” pilot programme.

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    Anti-Money Laundering

    Morgan Stanley Internal Documents Show Scale of AML Deficiencies

    By Nithya Subramanian | 30/11/2024

    Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.

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    KYC & CDD

    Wise Tightens AML Compliance Following Regulatory Review in Europe

    By Thisanka Siripala | 30/11/2024

    The National Bank of Belgiumreportedly found in 2022 that Wise lacked proof of address for hundreds of thousands of customers.

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    Supervision & Enforcement

    AUSTRAC Fines 16 Firms for Failure to Submit Compliance Reports

    By Editors | 30/11/2024

    The infringement notices were issued for failure to submit 2023 annual compliance reports. The firms had a history of non-compliance.

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    Anti-Money Laundering

    Australian Parliament Passes Historic AML/CTF Amendment Bill

    By Thisanka Siripala | 29/11/2024

    The bill extends AML/CTF obligations to lawyers, accountants, TCSPs, real estate professionals, and dealers in precious metals and stones.

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    Anti-Money Laundering

    FCA Unveils New 5-year Strategy to Boost Trust in UK Market

    By Editors | 29/11/2024

    FCA chief operating officer Emily Shepperd said tackling financial crime is one of four pillars of the new strategy.

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    PEPs & Sanctions

    US Appeals Court Overturns Tornado Cash Sanctions

    By Editors | 28/11/2024

    The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

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