Anti-Money Laundering

Anti-Money Laundering

Mexico’s Elisa de Anda Madrazo Assumes FATF Presidency

By Manesh Samtani | 04/07/2024

Elisa De Anda Madrazo will serve as FATF President from July 2024 to June 2026, taking over from T. Raja Kumar of Singapore.

Anti-Money Laundering

FATF Plans to Update Guidance for Money Laundering NRAs

By Editors | 04/07/2024

The FATF aims to make NRA guidance “more effective, comprehensive and useful for all stakeholders involved”.

Anti-Money Laundering

Singapore Raises Fines for Money Laundering Breaches by CSPs

By Nithya Subramanian | 04/07/2024

Existing laws have been amended to ensure that nominee directors are deemed “fit and proper” and misuse of directorships can result in significant penalties.

Anti-Money Laundering

Singapore Introduces New Anti-Money Laundering Bill

By Nithya Subramanian | 04/07/2024

The new Anti-Money Laundering and Other Matters Bill aims to make it easier to prosecute money laundering cases and tightens casino rules.

Anti-Money Laundering

US Regulators Announce $63m Settlement With Silvergate

By Manesh Samtani | 03/07/2024

Silvergate, once a popular bank for crypto firms, agreed to penalties for AML noncompliance and misleading statements to investors.

Anti-Money Laundering

Thai Regulators Ask Banks to “Strictly” Adhere to AML Law

By Nithya Subramanian | 03/07/2024

The Bank of Thailand and AMLO have asked financial institutions to follow enhanced due diligence procedures for both customers and their transactions.

Anti-Money Laundering

Singapore Withdraws Tax Incentives for SFOs in Money Laundering Case

By Nithya Subramanian | 03/07/2024

The total value of assets forfeited from convicted individuals with links to SFO funds far exceeds any tax benefits, said Gan Kim Yong.

Anti-Money Laundering

Panama Papers: Court Acquits All 28 Accused of Money Laundering

By Nithya Subramanian | 02/07/2024

According to media reports, the evidence presented was “not sufficient” to establish the defendants’ criminal responsibility.

Anti-Money Laundering

Singapore Releases Two Reports Tackling Terrorism Financing

By Nithya Subramanian | 02/07/2024

The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.