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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.
Cryptocurrency
New Requirements Commencing for Crypto Firms in Singapore
By Manesh Samtani | 02/04/2024
The amendments take effect in stages from 4 April 2024, with transitional arrangements for firms currently conducting activities under the expanded scope of the Payment Services Act.
PEPs & Sanctions
Russia Using Tether Stablecoin to Circumvent Sanctions – Report
By Editors | 02/04/2024
One China-based smuggler used a Hong Kong distributor, shipments via Central Asia, and Tether for payments to fulfill Russian orders for drone parts.
Anti-Money Laundering
MAS Proposes to Require Market Operators to Conduct AML/CFT Checks
By Nithya Subramanian | 01/04/2024
The checks would have to be performed on non-FI market participants that trade directly on organised markets without going through capital market intermediaries.
Anti-Money Laundering
AMLC Names and Shames DNFBPs That Have Failed to Register
By Sanday Chongo Kabange | 01/04/2024
The AMLC named one real estate developer and ten jewelry dealers that have failed to comply with their registration obligations.
Fraud, Scams & Cybercrime
HK Court Jails Former AXA Agents for Fraud, Money Laundering
By Sanday Chongo Kabange | 01/04/2024
The three former AXA insurance agents were sentenced for defrauding AXA of commissions and bonuses and for laundering the proceeds.
Anti-Money Laundering
‘COSMIC’ Information Sharing Platform Launches in Singapore
By Editors | 01/04/2024
COSMIC allow banks to share information on suspicious customers or transactions to help detect and prevent financial crime.
Anti-Money Laundering
FATF Sheds Light on Global Implementation of Crypto Standards
By Manesh Samtani | 31/03/2024
91% of jurisdictions with materially important VASP activity have enacted or are in the process of enacting AML/CTF requirements for VASPs.
Fraud, Scams & Cybercrime
FTX Founder Sam Bankman-Fried Sentenced to 25 Years
By Editors | 31/03/2024
The judge also ordered the forfeiture of more than $11bn for properties and assets Bankman-Fried bought with customer funds.
Anti-Money Laundering
Nigeria Files Charges Against Binance & Executives
By Editors | 31/03/2024
One of the two Binance executives detained last month escaped custody. Both executives and Binance are accused of money laundering and tax evasion, among other charges.
Structural Regulation
Korea, Poland to Strengthen Financial Industry Collaboration
By Editors | 31/03/2024
The FSC is seeking to boost supervisory cooperation with Polish authorities and more permits for Korean banks to operate in the country.
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