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

    Canada’s FINTRAC Signs AML/CFT MoU with US Regulators

    By Thisanka Siripala | 06/12/2024

    The MoU will facilitate information exchange, best practice sharing, and coordination on illicit finance risks that affect both the Canadian and US financial systems.

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    Anti-Money Laundering

    AUSTRAC to Crack Down on Non-compliant Crypto ATM Providers

    By Editors | 06/12/2024

    AUSTRAC has established an internal taskforce to target crypto ATMs that are being exploited for money laundering, scams and money mule activities.

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    Anti-Money Laundering

    Former EU Justice Commissioner Investigated for Money Laundering

    By Nithya Subramanian | 05/12/2024

    Belgian police searched the homes of Didier Reynders amid allegations of laundering funds through lottery ticket purchases.

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    PEPs & Sanctions

    US, UK Target Major Russian Sanctions Evasion Network

    By Editors | 05/12/2024

    OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

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    Anti-Money Laundering

    Basel Institute on Governance Publishes 2024 Basel AML Index

    By Manesh Samtani | 04/12/2024

    In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

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    Supervision & Enforcement

    UK FCA Finalises Updates to Financial Crime Guide

    By Editors | 04/12/2024

    The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

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    Anti-Money Laundering

    Australian Police Dismantle Money Laundering Syndicate

    By Sanday Chongo Kabange | 03/12/2024

    The AFP has arrested four men and dismantled an organised crime syndicate that allegedly laundered A$10mn of criminal proceeds.

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    Anti-Money Laundering

    Lombard Odier, Ex-Banker Indicted in Swiss Money Laundering Case

    By Nithya Subramanian | 03/12/2024

    Swiss prosecutors alleged that Lombard Odier and one of its former RMs concealed dirty funds and engaged in “aggravated money laundering”.

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    Cryptocurrency

    Taiwan FSC Launches New Registration System for VASPs

    By Manesh Samtani | 02/12/2024

    The FSC also released guidelines for firms providing virtual asset services and launched a “Virtual Asset Custody Services” pilot programme.

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    Anti-Money Laundering

    Morgan Stanley Internal Documents Show Scale of AML Deficiencies

    By Nithya Subramanian | 30/11/2024

    Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.

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