Anti-Money Laundering

    Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.

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    Anti-Money Laundering

    FSA Launches AML Probe into Tokyo’s Kiraboshi Bank

    By Mark Johnston | 25/04/2024

    The bank did not perform checks on around 80 large remittances made by a customer over less than two months, despite the suspicious circumstances.

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    Fraud, Scams & Cybercrime

    Thai Police to Return $3.4m in Seized Assets to Crypto Fraud Victims

    By Mark Johnston | 25/04/2024

    The assets were confiscated from two gambling websites that were linked to a cryptocurrency fraud scheme; 23 suspects were arrested.

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    PEPs & Sanctions

    US President Signs National Security Package Into Law

    By Editors | 25/04/2024

    Among other things, the package broadens sanctions on Iran, allows confiscation of Russian assets, and requires TikTok to separate from ByteDance.

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    Fraud, Scams & Cybercrime

    Singapore Court Sentences Money Mule to 10 Years Jail

    By Nithya Subramanian | 25/04/2024

    Muhammad Zahir Johana allowed his Singpass credentials to be used to open bank accounts that were used to receive scam proceeds.

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    Anti-Money Laundering

    EU Parliament Adopts AMLD6 and Related Regulations

    By Mark Johnston | 25/04/2024

    The legislation now awaits formal adoption by the European Council before being published in the EU’s Official Journal.

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    Anti-Money Laundering

    US DOJ Proposes 36-Month Prison Sentence for Binance Founder

    By Mark Johnston | 25/04/2024

    The DOJ said the sentence must be significant to effectively punish Changpeng Zhao and to deter others who are tempted to break US laws.

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    Supervision & Enforcement

    South Australia Proposes Higher Penalties for Casino Misconduct

    By Nithya Subramanian | 24/04/2024

    The proposed laws are expected to ensure a greater level of accountability and responsibility, and result in heftier fines for SkyCity.

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    Anti-Money Laundering

    Commerzbank Fined in Germany for AML Violations

    By Mark Johnston | 24/04/2024

    BaFin said Commerzbank was slow to update customer data and inadequately applied enhanced due diligence requirements.

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    Anti-Money Laundering

    HK Customs Busts $230m Crypto Money Laundering Scheme

    By Mark Johnston | 23/04/2024

    Three suspects were arrested for orchestrating over 1,000 dubious transactions through 18 bank accounts linked to shell companies.

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    Cryptocurrency

    Thailand to Start Blocking Unlicensed Crypto Providers

    By Sanday Chongo Kabange | 23/04/2024

    Thailand’s SEC and MDES will start blocking unlicensed digital asset platforms in the country to curb money laundering and online crime.

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