Anti-Money Laundering

Anti-Money Laundering

1MDB and Subsidiaries Sue Former PM’s Wife for $346mn

By Nithya Subramanian | 13/05/2024

The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.

Anti-Money Laundering

New Zealand DIA Issues Formal AML Warning to Lawyer

By Sanday Chongo Kabange | 13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

Fraud, Scams & Cybercrime

Taiwan Progresses New Anti-Fraud Legislative Package

By Editors | 12/05/2024

The legislative extends fraud prevention obligations to VASPs, telecom companies, and internet advertising platforms, among others.

Anti-Money Laundering

RBI Directs NBFCs to Limit Cash Disbursals for Gold Loans

By Ajoy K Das | 10/05/2024

The Income Tax Act prohibits any individual from receiving more than INR 20,000 as a loan amount in cash.

PEPs & Sanctions

Australia Publishes Sanctions Advisory for Crypto Exchanges

By Nithya Subramanian | 10/05/2024

Digital currency exchanges should take “reasonable precautions” and exercise due diligence to prevent sanctions evasion.

Anti-Money Laundering

Singapore to Strengthen Laws to Pursue Money Launderers

By Nithya Subramanian | 10/05/2024

Sectoral regulators will have access to STRs filed by entities they regulate, to enable better detection.

PEPs & Sanctions

Malaysia Tells US Officials it Only Recognises UN Sanctions

By Editors | 10/05/2024

US officials have warned Malaysia about ship-to-ship transfers and Iranian money moving through its financial system.

Anti-Money Laundering

FIs Exposed to Land Conversion-related Financial Crime Risk

By Manesh Samtani | 09/05/2024

WWF-UK and Themis have identified vulnerabilities when it comes to handling the proceeds of land conversion-related financial crimes.

Anti-Money Laundering

FinCEN Issues Advisory to Help FIs Detect Terrorist Financing

By Manesh Samtani | 08/05/2024

The Advisory describes how Iran finances terrorist organisations and provides red flags to aid in detection, prevention, and reporting.