Anti-Money Laundering

Anti-Money Laundering

US SEC Fines ATS Operator OTC Link for AML Failings

By Editors | 18/08/2024

OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.

Anti-Money Laundering

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

Supervision & Enforcement

OJK, HKMA Sign MOU to Expand Cooperation in Banking Supervision

By Editors | 16/08/2024

Indonesia’s OJK said it hopes to establish a supervisory college with the HKMA and enhance staff capacities at both regulators.

Anti-Money Laundering

Binance is Registered with Indian FIU, Ending Seven Month Ban

By Ajoy K Das | 16/08/2024

Binance said the registration underscores its commitment to adhering to AML standards and fostering a secure, transparent, and efficient ecosystem.

Anti-Money Laundering

Macau to Criminalise Unauthorised Money Exchange in Casinos

By Editors | 15/08/2024

Those offering unauthorised currency exchange services to gamblers inside casinos and their ancillary facilities would face up to five years in prison.

Anti-Money Laundering

Singapore Charges Ex-Bankers in Money Laundering Case

By Nithya Subramanian | 15/08/2024

Former Citibank and Julius Baer relationship managers are accused of forging documents, money laundering and obstructing justice.

PEPs & Sanctions

Bulgarian Man Extradited to US Over Illegal Exports to Russia

By Editors | 14/08/2024

Milan Dimitrov conspired with two others to use a Bulgarian company to receive export-controlled items from the US and transship them to Russia.

Fraud, Scams & Cybercrime

Korea: Woori Facing Disciplinary Action Over Improper Loans

By Mark Johnston | 13/08/2024

The FSS said Woori improperly disbursed 28 loans worth a combined KRW 35 billion to Chairman Sohn Tae-Seung’s relatives and their companies.

Anti-Money Laundering

Mekong Club Calls on FIs to Bolster Efforts Against Modern Slavery

By Nithya Subramanian | 13/08/2024

Mekong Club published a new report offering recommendations, typologies and indicators to help FIs address modern slavery risks.