Anti-Money Laundering

Anti-Money Laundering

Singapore Secures Seventh Conviction in Money Laundering Case

By Nithya Subramanian | 24/05/2024

Cambodian national Chen Qingyuan, who is wanted in China, has been sentenced to a 15-month jail term and will forfeit S$21mn.

Fraud, Scams & Cybercrime

“Ecosystem Approach” Vital to Combat Digital Fraud: HKMA

By Nithya Subramanian | 23/05/2024

Coordinated global efforts and information sharing initiatives are becoming more commonplace to combat fraud, but there is still work to do, said HKMA’s Carmen Chu.

Anti-Money Laundering

NZ DIA, SkyCity Reach Settlement Over AML Breaches

By Sanday Chongo Kabange | 22/05/2024

A penalty of NZD 4.16 million was proposed to the court to settle SkyCity’s liability over the AML breaches.

Anti-Money Laundering

NZ Regulators Endorse New AML/CFT Supervisory Approach

By Sanday Chongo Kabange | 22/05/2024

The DIA, FMA and RBNZ say changes to the AML/CFT requirements will ensure New Zealand is meeting global AML/CFT standards.

Fraud, Scams & Cybercrime

US DOJ Arrests Two Chinese Nationals Involved In $73m Crypto Scam

By Mark Johnston | 18/05/2024

Both individuals face accusations of conspiracy to commit money laundering and six counts of international money laundering.

Anti-Money Laundering

FATF Publishes Updated Procedures for Mutual Evaluations

By Editors | 17/05/2024

FATF will prioritise countries whose assessments are most outdated, that face higher risks and have important financial sectors.

Anti-Money Laundering

AUSTRAC, SkyCity Propose A$67m Settlement to Court

By Editors | 17/05/2024

A hearing date has been set for 7 June 2024 for the court to consider the settlement jointly proposed by AUSTRAC and SkyCity Adelaide.

Anti-Money Laundering

Malaysia Taking Steps to Enhance AML/CFT Regime

By Editors | 16/05/2024

Malaysian laws are being reviewed to address “gaps and implementation issues” and “elevate beneficial ownership reporting”.

Anti-Money Laundering

Chinese Authorities Arrest Six in Crypto Money Laundering Scheme

By Nithya Subramanian | 16/05/2024

The suspects were involved in laundering CNY 2.14 billion through crypto transactions to South Korea.