Anti-Money Laundering

Anti-Money Laundering

All Eyes Are on Singapore and its Fight Against Dirty Money

By Tom Keatinge | 22/08/2024

For the past two years, Singapore has led the global fight against dirty money. It’s now time for it to focus on the home front again, says Tom Keatinge.

PEPs & Sanctions

Latvia Extradites Citizen to Face US Charges for Russian Exports

By Editors | 22/08/2024

Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

Fraud, Scams & Cybercrime

Singapore Jails Former Healthcare Execs for Defrauding Banks

By Ranamita Chakraborty | 22/08/2024

Maybank, Standard Chartered, DBS, UOB, Citibank, and HSBC were defrauded of SGD 69 million through the use of forged documents.

Fraud, Scams & Cybercrime

Polish National Arrested in Montenegro for Crypto Fraud

By Mark Johnston | 22/08/2024

Both Poland and South Korea are seeking the extradition of crypto founder Roman Zimian to face fraud and money laundering charges.

PEPs & Sanctions

US Sanctions Former Haitian President for Drug Trafficking

By Editors | 21/08/2024

OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.

Anti-Money Laundering

Singapore Freezes 300 Suspicious OCBC Accounts, Seizes S$1.8m

By Nithya Subramanian | 21/08/2024

A joint operation revealed bank accounts were used to layer scam proceeds, which obscured fund sources and facilitated money laundering.

Anti-Money Laundering

HK Court Jails Ex-Sunway Employee for Laundering $125m

By Sanday Chongo Kabange | 21/08/2024

The court sentenced a personal assistant to five years in prison for helping his boss unlawfully obtain loans from a listed company and launder the proceeds.

Anti-Money Laundering

Banks Exercise Caution in Transition to AI-Based AML Systems

By Bradley Maclean | 20/08/2024

Participants at a recent Regulation Asia roundtable in Hong Kong expressed caution, but also optimism, about the use of AI for AML purposes.

Anti-Money Laundering

Singapore, Malaysia Dismantle Money Laundering Syndicate

By Nithya Subramanian | 20/08/2024

Malaysian police arrested 12 individuals for suspected money laundering using Singapore bank accounts. One of the individuals was charged in Singapore this week.