Anti-Money Laundering

Anti-Money Laundering

Stronger AML Controls Needed to Combat Organised Crime: AIC

By Thisanka Siripala | 10/09/2024

The Australian Institute of Criminology found that money laundering activity by organised crime groups leads to increases in crime-related harm.

Cryptocurrency

Indonesia’s OJK is Preparing New Tax Rules for Crypto – Report

By Nithya Subramanian | 10/09/2024

The new tax regulations are part of a transition of crypto supervision in Indonesia from Bappebti to OJK, expected by early 2025.

Supervision & Enforcement

ASIC Updates Misconduct Reporting Guidance for Administrators

By Thisanka Siripala | 10/09/2024

The guidance encourages administrators to use their professional judgment to make case-by-case assessments before reporting misconduct​.

Anti-Money Laundering

US Celebrities Received 1MDB Funds Worth $2.43m – Reports

By Nithya Subramanian | 10/09/2024

A Malaysian court heard that fugitive Jho Low transferred 1MDB money to Kim Kardashian and Pharrell Williams but the reasons are unknown.

Anti-Money Laundering

France Releases Telegram CEO on €5m Bail and Conditions

By Manesh Samtani | 10/09/2024

Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.

Anti-Money Laundering

HKMA Issues Guidance on Using AI to Enhance AML Monitoring

By Sanday Chongo Kabange | 10/09/2024

Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.

PEPs & Sanctions

US Lawmakers Accuse Iraq of Facilitating Iran Sanctions Evasion

By Editors | 09/09/2024

Five US members of Congress claim Iraqi officials are involved in “industrial-scale sanctions evasion” on behalf of the Iranian regime.

Anti-Money Laundering

Singapore Arrests 14 for Offering Unlicensed Payment Services in Casinos

By Nithya Subramanian | 09/09/2024

Police seized over SGD 190,000 in casino chips and cash during a multi-agency enforcement operation at the Marina Bay Sands Casino.

PEPs & Sanctions

Trump Promises to Lift All Russia Sanctions if Re-Elected

By Editors | 09/09/2024

Trump said the move would ensure the continued dominance of the US dollar and prevent Iran, Russia and China from gaining economic power.