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

    Revised Anti-Money Laundering Law Takes Effect in Taiwan

    By Manesh Samtani | 08/08/2024

    The amendments introduce criminal penalties for overseas crypto firms that offer services in Taiwan without establishing a local unit and complete an AML registration process.

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    Anti-Money Laundering

    Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

    By Editors | 07/08/2024

    Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

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    Anti-Money Laundering

    HKMA Expands FINEST Platform to Ten Participating Banks

    By Editors | 07/08/2024

    HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

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    Anti-Money Laundering

    Singapore Parliament Passes Bill to Strengthen AML Regime

    By Nithya Subramanian | 07/08/2024

    The amendment bill will enable STRO to access more intelligence from government agencies and make it easier for prosecutors to pursue cases.

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    Anti-Money Laundering

    The Case for Change: Leveraging GenAI in Anti-Financial Crime

    By Bradley Maclean | 07/08/2024

    GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

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    Anti-Money Laundering

    DIA Offers Insight into TF Risks Facing New Zealand

    By Ranamita Chakraborty | 07/08/2024

    The DIA warns that terrorism financiers could manipulate New Zealand’s financial system and legal structures using methods similar to money launderers.

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    Cryptocurrency

    India Demands $86m in Back Taxes from Crypto Giant Binance

    By Ajoy K Das | 06/08/2024

    Binance is said to have earned more than $476mn in transaction fees from Indian customers between July 2017 and March 2024.

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    Anti-Money Laundering

    Hong Kong’s Insurance Authority Fines AIA for AML Lapses

    By Sanday Chongo Kabange | 06/08/2024

    The IA fined AIA’s Hong Kong branch after an inspection identified shortfalls in its AML controls and processes.

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    Anti-Money Laundering

    HK Court Convicts Ex-Sunway Employee for Money Laundering

    By Sanday Chongo Kabange | 06/08/2024

    The former PA helped his boss to launder HK$125mn that was unlawfully obtained through loans from HK-listed Sunway Intl Hldgs.

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    Anti-Money Laundering

    MAS Consults on Suspension of Certain China Remittance Channels

    By Nithya Subramanian | 06/08/2024

    MAS proposes to continue with the suspension announced last December and to expand its scope to include legal entities.

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