Anti-Money Laundering

PEPs & Sanctions

Dutch Law Firm Found Facilitating Iranian Oil Sales – Report

By Editors | 23/11/2024

The Dutch law firm reportedly used a Surinamese subsidiary to set up companies to manage oil tankers that are part of Iran’s “ghost fleet”.

Cryptocurrency

Australia Consults on Adopting Tax Reporting Framework for Crypto

By Nithya Subramanian | 22/11/2024

The consultation explores policy options, compliance timelines, and strategies to ensure transparency and tackle tax evasion in the crypto market.

PEPs & Sanctions

OFAC Fines Individual $1.1m for Violating Iran Sanctions

By Editors | 21/11/2024

The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

Anti-Money Laundering

US Court Jails Operator of Darknet Cryptocurrency Mixer ‘Helix’

By Nithya Subramanian | 21/11/2024

Helix was popular among online drug dealers to launder their illicit proceeds, processing $300m in cryptocurrency transactions between 2014 and 2017.

PEPs & Sanctions

US Agencies Probe AML Policies and Systems at Citi – Reports

By Editors | 20/11/2024

The probe centres on Citigroup’s work for Heritage Trust, which holds assets owned by a sanctioned Russian billionaire.

Anti-Money Laundering

Singapore: $1.4b from Overseas Suspects Surrendered to State

By Nithya Subramanian | 20/11/2024

Police said 15 of 17 suspected money launderers who fled Singapore agreed to surrender assets to end the cases against them.

Anti-Money Laundering

US Court Jails Bitfinex Hacker for Laundering Stolen Bitcoin

By Nithya Subramanian | 19/11/2024

Ilya Lichtenstein was sentenced to five years in prison and his wife to 18 months for their roles in the 2016 Bitfinex hack.

Fraud, Scams & Cybercrime

Singapore Police Investigate 288 Suspects in Scams Totaling S$6.54m

By Nithya Subramanian | 18/11/2024

The Singapore Police Force conducted a two-week operation uncovering 1,208 scam cases, including job, e-commerce, and investment scams.

Anti-Money Laundering

Australia Consults on Enhanced Beneficial Ownership Reforms

By Sanday Chongo Kabange | 15/11/2024

The reforms aim to increase the disclosure of ownership information for listed companies and broaden the ASIC’s regulatory enforcement powers.