Anti-Money Laundering

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.

Anti-Money Laundering

China’s Top Court Issues Guidelines on Money Laundering Cases

By Manesh Samtani | 19/08/2024

Concealment or disguise of criminal proceeds, including through the use of virtual assets, will be punished as money laundering offences.

PEPs & Sanctions

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

Fraud, Scams & Cybercrime

Singapore, HK and Interpol Dismantle Money Laundering Syndicate

By Nithya Subramanian | 19/08/2024

The transnational criminal group based in Hong Kong laundered proceeds from technical support scams in Singapore.

Anti-Money Laundering

US SEC Fines ATS Operator OTC Link for AML Failings

By Editors | 18/08/2024

OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.

Anti-Money Laundering

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

Supervision & Enforcement

OJK, HKMA Sign MOU to Expand Cooperation in Banking Supervision

By Editors | 16/08/2024

Indonesia’s OJK said it hopes to establish a supervisory college with the HKMA and enhance staff capacities at both regulators.

Anti-Money Laundering

Binance is Registered with Indian FIU, Ending Seven Month Ban

By Ajoy K Das | 16/08/2024

Binance said the registration underscores its commitment to adhering to AML standards and fostering a secure, transparent, and efficient ecosystem.

Anti-Money Laundering

Macau to Criminalise Unauthorised Money Exchange in Casinos

By Editors | 15/08/2024

Those offering unauthorised currency exchange services to gamblers inside casinos and their ancillary facilities would face up to five years in prison.