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 OCC Imposes Restrictions on Wells Fargo for AML Deficiencies

    By Editors | 17/09/2024

    The OCC requires Wells Fargo to address deficiencies and seek prior written approval before launching new products or services or entering new geographies.

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    Anti-Money Laundering

    India’s Adani Group Defends Against Allegations of Swiss Probe

    By Ajoy K Das | 17/09/2024

    Hindenburg Research says $310mn of Adani Group’s funds have been frozen in Switzerland in connection with a money laundering probe.

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    PEPs & Sanctions

    US Issues New Sanctions Targeting Russian Influence Operations

    By Editors | 16/09/2024

    The new sanctions target media group Rossiya Segodnya and others connected to Russian state media RT and its “malign influence efforts”.

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    Anti-Money Laundering

    Korea Unveils New Measures to Stamp Out Illegal Loans

    By Thisanka Siripala | 14/09/2024

    The FSC will take control of the registration process from local governments. Capital requirements and penalties for violations will also increase.

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    Anti-Money Laundering

    Swedish Court Sentences Former Swedbank CEO to Jail Term

    By Nithya Subramanian | 13/09/2024

    Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.

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    KYC & CDD

    GCFFC Calls for Better Access to Global Beneficial Ownership Data

    By Manesh Samtani | 12/09/2024

    In a new report, the GCFFC outlines key considerations for building technological systems to standardise the collection and publication of BO data across jurisdictions.

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    PEPs & Sanctions

    OFAC Sanctions Hezbollah Oil and LPG Smuggling Network

    By Editors | 12/09/2024

    The sanctions target a senior Hezbollah finance team official, two Lebanese businessmen and companies they operate, along with a shipping company and two vessels.

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    Fraud, Scams & Cybercrime

    Singapore to Issue First Charges Under New Anti-Scam Laws

    By Nithya Subramanian | 12/09/2024

    Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

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    Anti-Money Laundering

    UK FCA Charges Man for Operating Illegal Crypto ATM Network

    By Nithya Subramanian | 12/09/2024

    The London resident is the first individual to be criminally prosecuted for unregistered crypto activity in the UK.

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    Supervision & Enforcement

    China NFRA Revises Rules on Handling Criminal Cases Involving FIs

    By Editors | 11/09/2024

    The revised rules specify time limits for reporting and requirements for FIs to optimise case management and pursue individual accountability.

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