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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    PEPs & Sanctions

    Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

    By Editors | 27/11/2024

    US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.

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    Anti-Money Laundering

    UK Government Pushes for Public Beneficial Ownership Registers

    By Mark Johnston | 26/11/2024

    The UK government has reaffirmed its commitment to establishing fully public beneficial ownership registers.

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    Anti-Money Laundering

    Eurojust Establishes Judicial Focus Group to Combat Money Laundering

    By Mark Johnston | 26/11/2024

    Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

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    Fraud, Scams & Cybercrime

    S. Korean Police Confirm DPRK’s Role in 2019 Upbit Theft

    By Mark Johnston | 25/11/2024

    North Korean hackers stole 342,000 Ethereum tokens from Upbit in 2019. At today’s prices the tokens would be worth over $800mn.

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    KYC & CDD

    Singapore Court Fines Jeweller for Failing to Perform CDD

    By Nithya Subramanian | 23/11/2024

    The case is Singapore’s first prosecution under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act.

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    Anti-Money Laundering

    Australia to Expand National Scheme on Unexplained Wealth

    By Thisanka Siripala | 23/11/2024

    The government tabled in Parliament its response to an independent review of the ‘National Cooperative Scheme on Unexplained Wealth’.

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    PEPs & Sanctions

    Dutch Law Firm Found Facilitating Iranian Oil Sales – Report

    By Editors | 23/11/2024

    The Dutch law firm reportedly used a Surinamese subsidiary to set up companies to manage oil tankers that are part of Iran’s “ghost fleet”.

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    Cryptocurrency

    Australia Consults on Adopting Tax Reporting Framework for Crypto

    By Nithya Subramanian | 22/11/2024

    The consultation explores policy options, compliance timelines, and strategies to ensure transparency and tackle tax evasion in the crypto market.

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    PEPs & Sanctions

    OFAC Fines Individual $1.1m for Violating Iran Sanctions

    By Editors | 21/11/2024

    The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

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    Anti-Money Laundering

    US Court Jails Operator of Darknet Cryptocurrency Mixer ‘Helix’

    By Nithya Subramanian | 21/11/2024

    Helix was popular among online drug dealers to launder their illicit proceeds, processing $300m in cryptocurrency transactions between 2014 and 2017.

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