Anti-Money Laundering

PEPs & Sanctions

US Officials in Malaysia, Singapore This Week to Discuss Sanctions

By Editors | 06/05/2024

Treasury’s Brian Nelson and Neil MacBride will meet with the Malaysian and Singapore financial sectors to discuss compliance and enforcement efforts.

Anti-Money Laundering

EBA’s New AML Database Set to Start Receiving Personal Data

By Editors | 05/05/2024

EuReCA was launched by the EBA in January 2022, but has so far not yet been able to collect personal data from EU supervisors.

Stablecoins

Tether to Start Monitoring Secondary Market for USDT

By Editors | 04/05/2024

Through a partnership with Chainalysis, Tether will provide sanctions monitoring, an illicit transfers detection tool, and analysis on major USDT holders.

Anti-Money Laundering

Singapore: Two More Sentenced in Money Laundering Case

By Nithya Subramanian | 03/05/2024

Cambodian Su Baolin and Chinese national Zhang Ruijin were sentenced to jail and required to forfeit a combined S$183mn in assets.

Anti-Money Laundering

Canada’s FINTRAC Imposes AML Penalty on TD Bank

By Mark Johnston | 03/05/2024

The $6.7mn fine is the largest-ever levied by FINTRAC. TD Bank has separately provisioned $450mn for potential US penalties.

KYC & CDD

China Issues New Rules on Beneficial Ownership Registration

By Manesh Samtani | 03/05/2024

The new regulations will come into effect on 1 November 2024. Existing in-scope entities will have until 1 November 2025 to register beneficial owner information.

PEPs & Sanctions

US Senators Raise Concerns Over Iran’s Crypto Mining

By Editors | 03/05/2024

A letter from two US senators asks government officials about the steps being taken to address Iranian crypto mining and sanctions evasion.

Structural Regulation

Redomiciling VCC Funds to Singapore Can Be ‘Daunting’

By Nithya Subramanian | 02/05/2024

Besides navigating a complex maze of regulatory, tax and operational hurdles, the spectre of asset illiquidity during transition looms large.

Anti-Money Laundering

Australia Opens 2nd Consultation on ‘Tranche 2’ AML Reforms

By Manesh Samtani | 02/05/2024

The proposed reforms will extend the AML/CTF regime to cover Tranche 2 entities and a broader range of digital currency-related services.