Anti-Money Laundering

Anti-Money Laundering

Singapore Charges Ex-Bankers in Money Laundering Case

By Nithya Subramanian | 15/08/2024

Former Citibank and Julius Baer relationship managers are accused of forging documents, money laundering and obstructing justice.

PEPs & Sanctions

Bulgarian Man Extradited to US Over Illegal Exports to Russia

By Editors | 14/08/2024

Milan Dimitrov conspired with two others to use a Bulgarian company to receive export-controlled items from the US and transship them to Russia.

Fraud, Scams & Cybercrime

Korea: Woori Facing Disciplinary Action Over Improper Loans

By Mark Johnston | 13/08/2024

The FSS said Woori improperly disbursed 28 loans worth a combined KRW 35 billion to Chairman Sohn Tae-Seung’s relatives and their companies.

Anti-Money Laundering

Mekong Club Calls on FIs to Bolster Efforts Against Modern Slavery

By Nithya Subramanian | 13/08/2024

Mekong Club published a new report offering recommendations, typologies and indicators to help FIs address modern slavery risks.

PEPs & Sanctions

FATF Calls on India to Enhance Scrutiny of Domestic PEPs – Report

By Ajoy K Das | 12/08/2024

The FATF calls for tighter account opening scrutiny for domestic PEPs and their families, and more rigorous monitoring of their bank accounts.

Anti-Bribery & Corruption

US Court Convicts Former Mozambique Official in Bribery Case

By Editors | 12/08/2024

Following a four-week trial in New York, Mozambique’s former finance minister was found guilty for accepting $7mn in bribes.

Anti-Money Laundering

US Fed Imposes Conditions on Customers Bank for AML Deficiencies

By Manesh Samtani | 12/08/2024

The Fed cited risk management deficiencies relating to an instant payments platform used to enable crypto firms to make around-the-clock US dollar payments.

Anti-Bribery & Corruption

Australia AGD Will ‘Shortly’ Publish Anti-Foreign Bribery Guidance

By Manesh Samtani | 11/08/2024

The guidance will help firms prepare for reforms that introduce ‘failure to prevent foreign bribery’ a new corporate offence from 8 September.

Anti-Money Laundering

Four Arrested by HK Customs in HK$1.5b Money Laundering Case

By Editors | 10/08/2024

The arrestees allegedly used 39 bank accounts, six shell companies and cryptocurrency to launder crime proceeds from across the APAC region.