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

    Australia to “Shortly” Issue New Consultation on Tranche 2 AML Reforms

    By Manesh Samtani | 20/02/2024

    Officials said feedback to last year’s consultation was “very supportive” and the upcoming consultation will be more detailed.

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    Anti-Money Laundering

    Seven Arrested in Hong Kong’s Largest Ever Money Laundering Case

    By Sanday Chongo Kabange | 19/02/2024

    The case involves a total of about HK$14 billion of suspected crime proceeds. HK$185 million in assets has so far been frozen or seized.

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    Anti-Money Laundering

    SkyCity Facing NZ Court Proceedings for Alleged AML Failures

    By Sanday Chongo Kabange | 19/02/2024

    The DIA alleges that SkyCity did not meet various obligations required under the AML/CFT Act.

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    Anti-Money Laundering

    BaFin Warns Deutsche Bank Over Transaction Monitoring Systems

    By Mark Johnston | 19/02/2024

    The mandate of a special monitor appointed in 2018 is being extended until end-October to oversee efforts to enhance the bank’s systems for processing transaction data.

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    Anti-Money Laundering

    NatWest to Claw Back Bonuses from Ex-Staff Over 2021 AML Fine

    By Editors | 18/02/2024

    Malus, clawback or reduction notices will be applied to ten individuals who were in role when the failures occurred but have since left NatWest.

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    KYC & CDD

    RBI Defers Effective Date of Paytm Payments Bank Restrictions

    By Editors | 18/02/2024

    The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

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    Fraud, Scams & Cybercrime

    AFP Officer Charged with Stealing Bitcoin from Drug Bust

    By Mark Johnston | 17/02/2024

    The 2019 theft was discovered in 2021, when police implemented new tracing tools and tracked the crypto to Binance.

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    Anti-Money Laundering

    US Court Charges Digitex CEO with BSA Violations

    By Mark Johnston | 16/02/2024

    Founder and CEO of Digitex Futures Exchange has been indicted for failing to establish and implement an AML program as required by the Bank Secrecy Act.

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    Fraud, Scams & Cybercrime

    FCA Calls on Industry to Take Lead in Combatting Financial Crime

    By Ranamita Chakraborty | 15/02/2024

    The FCA is urging regulated firms to utilise technology advancements and upgrade their systems to match the sophistication of criminals.

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    Anti-Money Laundering

    KoFIU Workplan for 2024 Has a Heavy Focus on Crypto

    By Manesh Samtani | 15/02/2024

    KoFIU will also block “unqualified operators” from entering the market and “expel unqualified operators that have already entered the market”.

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