Anti-Money Laundering

PEPs & Sanctions

US DOJ Secures Guilty Plea in Russia Sanctions Evasion Case

By Editors | 14/02/2024

A Canadian-Russian national helped ship US-origin electronic components that were later found in Russian weapons in Ukraine.

Anti-Money Laundering

FinCEN to Extend AML/CFT Requirements to Investment Advisers

By Editors | 14/02/2024

Investment advisers would have to implement risk-based AML/CFT programmes and report suspicious activity to FinCEN.

Anti-Money Laundering

LME Facing Lawsuit Over “Dirty Metals” Sourced from Indonesia

By Editors | 14/02/2024

The case could force the LME to revisit its rules for listing metals for trading, the London Mining Network and Global Legal Action Network said.

Anti-Money Laundering

GCFFC Europe Chapter Sets Financial Crime Priorities for 2024

By Mark Johnston | 13/02/2024

The priorities include economic security, beneficial ownership, professional money launderers and public-private partnerships.

PEPs & Sanctions

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

Fraud, Scams & Cybercrime

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.

Anti-Money Laundering

New FinCEN Rule Targets Money Laundering in Real Estate

By Editors | 09/02/2024

Certain real estate professionals would be required to report all-cash transfers of residential real estate to legal entities or trusts.

Anti-Bribery & Corruption

Former CEO of Aon Singapore Charged With Bribery

By Nithya Subramanian | 09/02/2024

Collin Chiew has been accused of receiving SGD 668,000 in bribes and faces five counts of corruption as well as a money laundering charge.

Cryptocurrency

Hong Kong Proposes Regulatory Framework for OTC Crypto Venues

By Manesh Samtani | 09/02/2024

Firms providing “spot trade of any virtual assets for money” such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise.