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Anti-Money Laundering
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
FinCEN, SEC Propose AML Rule for Investment Advisers
By Editors | 16/05/2024
The rule, if adopted, would require investment advisers to implement procedures for verifying the identity of each customer.
Anti-Money Laundering
Singapore Makes Sixth Conviction in Money Laundering Case
By Nithya Subramanian | 15/05/2024
Turkish national Vang Shuiming was sentenced to “13 months and six weeks” imprisonment and required to forfeit S$179mn in assets.
Anti-Money Laundering
FATF, UNODC, INTERPOL Issue Joint Call to Action
By Editors | 14/05/2024
Countries are asked to step up their efforts to target the illicit profits generated by transnational organised crime.
Anti-Money Laundering
Australian Court Dismisses Class Action Against CBA
By Editors | 14/05/2024
The class action alleged that CBA failed to disclose its AML contraventions for several years before it was eventually fined A$700m in 2018.
PEPs & Sanctions
NZ Updates AML Guidance on Russia Sanctions
By Sanday Chongo Kabange | 14/05/2024
AML/CFT reporting entities that are duty holders under the Russia Sanctions Act must notify customers of asset freezes or blocked transactions.
Anti-Money Laundering
Canada: FINTRAC Fines Binance for Regulatory Violations
By Editors | 14/05/2024
Binance failed to report almost 6,000 crypto transactions larger than CAD 10,000 over the two years to July 2023.
Anti-Money Laundering
1MDB and Subsidiaries Sue Former PM’s Wife for $346mn
By Nithya Subramanian | 13/05/2024
The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.
Anti-Money Laundering
New Zealand DIA Issues Formal AML Warning to Lawyer
By Sanday Chongo Kabange | 13/05/2024
The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.
Fraud, Scams & Cybercrime
Taiwan Progresses New Anti-Fraud Legislative Package
By Editors | 12/05/2024
The legislative extends fraud prevention obligations to VASPs, telecom companies, and internet advertising platforms, among others.
Anti-Money Laundering
RBI Directs NBFCs to Limit Cash Disbursals for Gold Loans
By Ajoy K Das | 10/05/2024
The Income Tax Act prohibits any individual from receiving more than INR 20,000 as a loan amount in cash.
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