Anti-Money Laundering

Anti-Money Laundering

Japan to Tighten AML Controls to Target Organised Crime

By Manesh Samtani | 18/06/2024

Prompted by a $444mn money laundering case, Japanese regulators will ask banks to do more to detect criminal abuse of accounts.

Anti-Money Laundering

RUSI Identifies Typologies of Abuse of FATF Standards

By Manesh Samtani | 17/06/2024

RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.

Anti-Money Laundering

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

By Editors | 17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.

Anti-Money Laundering

Japan Regulator Issues Orders Against Crypto Firm CoinBest

By Editors | 15/06/2024

CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

Anti-Money Laundering

US Repatriates Additional $156mn in 1MDB Funds to Malaysia

By Nithya Subramanian | 15/06/2024

To date, the US DOJ has repatriated to Malaysia a total of $1.4bn that was misappropriated from 1MDB.

Anti-Money Laundering

HK ICAC Charges Asset Manager for Laundering HK$50m

By Sanday Chongo Kabange | 14/06/2024

The ICAC charged Xiao Rui, the owner of asset manager Augustine Holdings, for laundering HKD 50 million.

Anti-Money Laundering

Singapore Private Bankers Took Kickbacks from Property Deals

By Nithya Subramanian | 14/06/2024

Some private bankers reportedly received 30-50% of the commission for introducing clients to property agents.

Cryptocurrency

Taiwan Crypto Industry Launches New “VASP Association”

By Editors | 14/06/2024

The VASP Association is charged with developing self-regulatory guidelines and best practices for the crypto industry.

PEPs & Sanctions

US Court Jails Two Over Sanctions Evasion Scheme

By Editors | 13/06/2024

A Chinese national and US citizen were jailed for attempting to broker illicit oil sales between Iran and China and launder the proceeds.