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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.
Emerging Prudential Risks
US Treasury and PBOC to Conduct Joint Financial Shock Exercises
By Manesh Samtani | 09/04/2024
The exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks.
Anti-Money Laundering
Indonesian President Signs Decree on FATF Membership
By Editors | 09/04/2024
The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.
Anti-Money Laundering
Japan FSA Publishes Revised Version of AML/CFT FAQs
By Hiroshi Ozaki | 08/04/2024
The revisions were made to improve the sophistication of the risk-based approach and reduce prescriptive requirements.
Anti-Money Laundering
US, China Secure New Agreement to Cooperate on AML
By Editors | 07/04/2024
Janet Yellen said the US and China will share best practices and provide updates on the actions being taken to close loopholes.
Fraud, Scams & Cybercrime
US Court Jails Bulgarian National Over “OneCoin” Fraud
By Editors | 06/04/2024
Irina Dilkinska assisted in running OneCoin’s day-to-day operations and laundered fraudulently obtained proceeds to the Cayman Islands.
PEPs & Sanctions
Two Men Admit to Conspiracy to Export Aircraft Parts to Russia
By Editors | 05/04/2024
The two Russian nationals falsely claimed the parts were intended for countries other than Russia. US authorities stopped multiple shipments.
Anti-Money Laundering
Singapore Secures Second Conviction in Money Laundering Case
By Nithya Subramanian | 05/04/2024
Cypriot national Su Haijin, known for trying to escape from the police last August, agreed to forfeit about S$165mn in assets.
Supervision & Enforcement
China NFRA Issues New Administrative Punishment Framework
By Editors | 04/04/2024
The framework seeks to ensure punishments are strict and achieve deterrence effects, but also fair, reasonable, and commensurate with rule violations.
Anti-Money Laundering
Singapore Secures First Conviction in ‘Billion Dollar Money Laundering’ Case
By Nithya Subramanian | 03/04/2024
Cambodian national Su Wenqiang was sentenced to 13 months in jail for money laundering and making false statements to the Ministry of Manpower.
KYC & CDD
FinCEN Considers Changes to CIP Rule to Modernise AML/CFT Regime
By Sanday Chongo Kabange | 02/04/2024
FinCEN is considering changes to requirements for banks to collect a full Social Security number from customers during onboarding.
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