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Anti-Money Laundering
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Supervision & Enforcement
RBI Removes Business Restrictions on Two Edelweiss Group Firms
By Editors | 22/12/2024
The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.
Fraud, Scams & Cybercrime
INTERPOL Calls for Shift Away from ‘Dehumanising’ Term ‘Pig Butchering’
By Manesh Samtani | 22/12/2024
INTERPOL argues that the term dehumanises and shames victims of such frauds, deterring them from coming forward to seek help and provide information to authorities.
PEPs & Sanctions
US Imposes More Sanctions Targeting Iran’s Oil Trade & Yemen’s Houthis
By Editors | 22/12/2024
The sanctions targets include companies based in Hong Kong, Malaysia and India. Five cryptocurrency wallets were also added to the SDN list.
PEPs & Sanctions
OFAC Sanctions Two for Funnelling Illicit Proceeds to North Korea
By Editors | 18/12/2024
The two individuals are part of a network led by Sim Hyon Sop, a sanctioned China-based banking representative who helps North Korea launder money.
PEPs & Sanctions
OFAC Sanctions 20 Targets Linked to Global Drug Trafficking
By Editors | 18/12/2024
The sanctions targets, located across seven countries, include Australian David Thackray and New Zealander Ho Kai Leung.
Anti-Money Laundering
AUSTRAC Sues Online Betting Site Operator Entain for AML Breaches
By Sanday Chongo Kabange | 17/12/2024
AUSTRAC CEO said the failures in Entain’s approach to its AML/CTF obligations were “systemic” and “left the company at serious risk of criminal exploitation”
Anti-Money Laundering
Malaysia Advances Bill to Amend Trustee Act for AML/CFT
By Editors | 17/12/2024
The amendments will impose AML/CFT obligations on trustees, including requirements to maintain records on beneficial ownership.
Anti-Money Laundering
AUSTRAC Sets AML/CTF Improvement Priorities for Reporting Entities
By Sanday Chongo Kabange | 17/12/2024
AUSTRAC said wider board involvement is needed on ML/TF matters and firms should use tailored rules and triggers to prioritise high-risk investigations.
Anti-Money Laundering
AUSTRAC Offers Guidance on Filing Suspicious Matter Reports
By Sanday Chongo Kabange | 13/12/2024
The guidance comes in the form of an e-learning module, to help regulated entities submit good-quality SMRs and avoid common mistakes.
Anti-Money Laundering
US Authorities Arrest Former TD Bank Employee for Money Laundering
By Thisanka Siripala | 13/12/2024
The ex-employee allegedly issued debit cards from Florida that were used to withdraw narcotics proceeds through ATMs in Colombia.
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