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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
Singapore Deports Last Convict in Billion Dollar ML Case
By Nithya Subramanian | 29/07/2024
All ten individuals who were convicted and sentenced in the case have now been deported: eight to Cambodia, one to Japan, and one to the UK.
KYC & CDD
MAS Issues New ‘Source of Wealth’ Guidance for FIs
By Nithya Subramanian | 29/07/2024
MAS sets out key risk principles that FIs should follow when designing policies to establish SOW of customers.
Stablecoins
Swiss FINMA Publishes New Guidance on Stablecoins
By Editors | 29/07/2024
The guidance sets out new rules on deposit guarantees, which stablecoin issuers can obtain from banks instead of obtaining their own banking licences.
Anti-Money Laundering
Humanitarian Crisis in Gaza Being Exploited for Terror Financing
By Ranamita Chakraborty | 26/07/2024
Singapore’s Internal Security Department warns that charities and NGOs are being used by Hamas networks to raise funds globally.
Payments & Settlements
BSP Introduces Framework for Merchant Payment Activities
By Sanday Chongo Kabange | 26/07/2024
The framework sets out regulatory requirements for operators of payment systems that engage in merchant payment acceptance activities.
Fraud, Scams & Cybercrime
US, UK, South Korea Warn of DPRK Espionage Campaign
By Editors | 26/07/2024
Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.
Fraud, Scams & Cybercrime
Philippines Announces Total Ban on Offshore Gaming Operators
By Mark Johnston | 25/07/2024
The ban announced by the President will impact more than 400 POGOs, most of which are unlicensed and operate underground.
Stablecoins
Emerging Markets Particularly Vulnerable to Stablecoin Risks: FSB
By Editors | 24/07/2024
New FSB report says EMDEs are particularly vulnerable to macro-financial risks associated with the use of foreign currency-pegged stablecoins.
PEPs & Sanctions
Hong Kong Has Become a Sanctions Evasion Hub: Report
By Manesh Samtani | 24/07/2024
New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.
Anti-Money Laundering
US Authorities Recover Another $85m in 1MDB Case
By Nithya Subramanian | 24/07/2024
The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.
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