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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    Fraud, Scams & Cybercrime

    NY Court Allows Bangladesh Case Against RCBC to Proceed

    By Editors | 03/03/2024

    Bangladesh Bank’s lawsuit against the Philippines’ RCBC and its senior executives will be allowed to proceed, minus three causes of action.

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    Anti-Money Laundering

    Philippines: FIs That Deal with Unregistered DNFBPs Will Face Penalties

    By Sanday Chongo Kabange | 29/02/2024

    The AMLC said covered persons can only conduct business dealing with DNFBPs if they have valid registration certificates.

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    Anti-Bribery & Corruption

    Hong Kong Concludes First International Anti-Corruption Training

    By Sanday Chongo Kabange | 29/02/2024

    The training programme, co-organised by the ICAC and UNODC, brought together participants from 19 jurisdictions.

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    Anti-Money Laundering

    FATF Consults on R.16 Changes to Improve Payment Transparency

    By Manesh Samtani | 27/02/2024

    The revisions would help guard against fraud by requiring beneficiary FIs to check the alignment of beneficiary information in payment messages.

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    Anti-Money Laundering

    AUSTRAC Issues Draft Guidance on AML/CTF Outsourcing Arrangements

    By Manesh Samtani | 27/02/2024

    The guidance is intended to help reporting entities comply with their AML/CTF obligations when outsourcing to external providers.

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    Anti-Money Laundering

    DOJ Proposes Stricter Bond Conditions for Binance Founder

    By Mark Johnston | 27/02/2024

    Judge approves Binance’s settlement. Prosecutors propose stricter bond conditions for founder Changpeng Zhao until sentencing.

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    PEPs & Sanctions

    Ukraine Calls on FATF to Take Stronger Action on Russia

    By Editors | 26/02/2024

    Russia has been procuring missiles from Iran and North Korea for use against Ukraine in violation of UN sanctions, the Ukrainian Finance Ministry said.

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    Supervision & Enforcement

    SkyCity Adelaide Faces A$33M Penalty for Casino Tax Dispute

    By Mark Johnston | 26/02/2024

    SkyCity estimates it owes about A$13mn in back taxes dating back to 2014. Penalty interest could amount to as much as A$20mn.

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    Anti-Money Laundering

    UK FCA Probes Lloyds Banking Group Over AML Controls

    By Mark Johnston | 26/02/2024

    Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

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    Anti-Money Laundering

    S. Korea Has a New System for Tracking Crypto Tax Evaders

    By Mark Johnston | 25/02/2024

    Gyeonggi Province has been using a new digital tracking system that reduces investigation times from 6 months to just 15 days.

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