Anti-Money Laundering

Anti-Money Laundering

FATF Upgrades South Korea on R.8 in New Follow-up Report

By Editors | 31/10/2024

The report says Korea has addressed several deficiencies in its AML/CFT framework that will help prevent the abuse of NPOs.

PEPs & Sanctions

New Zealand Launches Review of Russia Sanctions Act

By Editors | 31/10/2024

The review aims to assess the Act’s operation and effectiveness, focusing on its practicality, compliance costs, and achievement of its purpose.

Anti-Money Laundering

FATF Consults on Revisions to Promote Financial Inclusion

By Manesh Samtani | 31/10/2024

The proposed revisions aim to better promote financial inclusion through increased focus on proportionality and simplified measures in the risk-based approach.

Anti-Money Laundering

Addressing Non-Latin Script Challenges in Name Screening and AML

By Bradley Maclean | 31/10/2024

As global financial crime becomes more complex, companies like Aereve are pioneering technologies to reduce false positives, enhance compliance, and mitigate risks.

Anti-Money Laundering

25 New Charges Against Malaysia’s Najib Razak are Valid, Court Rules

By Nithya Subramanian | 30/10/2024

Former Malaysia Prime Minister Najib Razak will have to face four additional abuse of power charges and 21 additional money laundering charges.

Anti-Money Laundering

Singapore Publishes National Anti-Money Laundering Strategy

By Nithya Subramanian | 30/10/2024

The new national AML strategy expands on a 2016 policy statement and introduces three building blocks and three supporting pillars to improve Singapore’s AML framework.

Fraud, Scams & Cybercrime

Bangladesh Bank Governor Alleges $17b State-Linked Bank Fraud

By Nithya Subramanian | 30/10/2024

Ahsan H Mansur alleged that Alam Group siphoned off $10bn from the banking system with help from the country’s military intelligence agency.

Anti-Money Laundering

MAS Fines Atrium Asia Investment Management for AML/CFT Breaches

By Nithya Subramanian | 30/10/2024

The firm’s CEO was also reprimanded over failures to assess risks posed by customers, identify PEPs, and keep adequate records.

Fraud, Scams & Cybercrime

Hong Kong to Introduce Anti-Fraud Alerts on ATMs Next Year

By Sanday Chongo Kabange | 29/10/2024

Alerts will pop up for ATM users when they enter details of recipient accounts that have been flagged as “high risk” in the Scameter database.