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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    Supervision & Enforcement

    China NFRA Revises Rules on Handling Criminal Cases Involving FIs

    By Editors | 11/09/2024

    The revised rules specify time limits for reporting and requirements for FIs to optimise case management and pursue individual accountability.

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    Anti-Money Laundering

    Australia Introduces AML/CTF Reform Bill to Parliament

    By Sanday Chongo Kabange | 11/09/2024

    The amendment bill will bring tranche 2 entities into scope and modernise the regulation of virtual assets and payments tech.

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    Anti-Money Laundering

    Stronger AML Controls Needed to Combat Organised Crime: AIC

    By Thisanka Siripala | 10/09/2024

    The Australian Institute of Criminology found that money laundering activity by organised crime groups leads to increases in crime-related harm.

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    Cryptocurrency

    Indonesia’s OJK is Preparing New Tax Rules for Crypto – Report

    By Nithya Subramanian | 10/09/2024

    The new tax regulations are part of a transition of crypto supervision in Indonesia from Bappebti to OJK, expected by early 2025.

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    Supervision & Enforcement

    ASIC Updates Misconduct Reporting Guidance for Administrators

    By Thisanka Siripala | 10/09/2024

    The guidance encourages administrators to use their professional judgment to make case-by-case assessments before reporting misconduct​.

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    Anti-Money Laundering

    US Celebrities Received 1MDB Funds Worth $2.43m – Reports

    By Nithya Subramanian | 10/09/2024

    A Malaysian court heard that fugitive Jho Low transferred 1MDB money to Kim Kardashian and Pharrell Williams but the reasons are unknown.

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    Anti-Money Laundering

    France Releases Telegram CEO on €5m Bail and Conditions

    By Manesh Samtani | 10/09/2024

    Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.

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    Anti-Money Laundering

    HKMA Issues Guidance on Using AI to Enhance AML Monitoring

    By Sanday Chongo Kabange | 10/09/2024

    Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.

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    PEPs & Sanctions

    US Lawmakers Accuse Iraq of Facilitating Iran Sanctions Evasion

    By Editors | 09/09/2024

    Five US members of Congress claim Iraqi officials are involved in “industrial-scale sanctions evasion” on behalf of the Iranian regime.

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    Anti-Money Laundering

    Singapore Arrests 14 for Offering Unlicensed Payment Services in Casinos

    By Nithya Subramanian | 09/09/2024

    Police seized over SGD 190,000 in casino chips and cash during a multi-agency enforcement operation at the Marina Bay Sands Casino.

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