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

    National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

    By Editors | 20/06/2024

    AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

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    Anti-Money Laundering

    Sri Lanka Sign New MoUs to Help Combat Illicit Finance

    By Ajoy K Das | 19/06/2024

    Sri Lanka’s FIU signed two new information exchange agreements, one with the bribery commission and the other with its counterpart in Bahrain.

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    Anti-Money Laundering

    US Uncovers Drug Cartel Alliance With Chinese Money Launderers

    By Editors | 19/06/2024

    US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

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    PEPs & Sanctions

    HSBC Breached AML Obligations in Switzerland: FINMA

    By Manesh Samtani | 19/06/2024

    HSBC’s Swiss private banking unit is prohibited from onboarding new PEPs until an auditor has confirmed its compliance with FINMA’s orders.

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    PEPs & Sanctions

    Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

    By Editors | 19/06/2024

    Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

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    Fraud, Scams & Cybercrime

    Asian Police Bust Multi-Jurisdiction Malware Scam Syndicate

    By Sanday Chongo Kabange | 18/06/2024

    Police in Hong Kong, Singapore, Malaysia and Taiwan jointly targeted a group involved in malware-enabled scams.

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    Anti-Money Laundering

    Japan to Tighten AML Controls to Target Organised Crime

    By Manesh Samtani | 18/06/2024

    Prompted by a $444mn money laundering case, Japanese regulators will ask banks to do more to detect criminal abuse of accounts.

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    Anti-Money Laundering

    RUSI Identifies Typologies of Abuse of FATF Standards

    By Manesh Samtani | 17/06/2024

    RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.

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    Anti-Money Laundering

    Malaysia SC Issues Revised AML/CFT/CPF Guidelines

    By Editors | 17/06/2024

    The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.

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    Anti-Money Laundering

    Japan Regulator Issues Orders Against Crypto Firm CoinBest

    By Editors | 15/06/2024

    CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

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