Anti-Money Laundering

Clearing & Post-Trade

ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

By Editors | 07/02/2024

Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

Anti-Money Laundering

Singapore: ACIP Issues AML/CFT Guidance to Address CSP Risks

By Nithya Subramanian | 07/02/2024

New ACIP paper offers recommendations for banks that receive customer referrals from corporate service providers.

Structural Regulation

Malaysia: SC Streamlines Authorisation Process for CMIs, RMOs

By Nithya Subramanian | 07/02/2024

The new approach will shorten the time to market for for new capital market intermediaries and recognised market operators to three months from six months previously.

Anti-Money Laundering

Iraq Bars Eight Local Banks from Accessing US Dollars

By Editors | 06/02/2024

The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.

Anti-Money Laundering

UK Environment Agency Launches Economic Crime Unit

By Editors | 06/02/2024

The unit will boost the Environment Agency’s efforts to tackle money laundering and carry out financial investigations in the waste sector.

PEPs & Sanctions

US Unseals Charges Against Iranian Oil Trafficking Network

By Editors | 05/02/2024

Nine individuals were charged over the illicit sale of Iranian oil to government-linked buyers in Russia, Syria and China.

Anti-Money Laundering

US DOJ Unseals More Charges in BTC-e Case

By Editors | 03/02/2024

Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.

Operational Risk

US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

By Editors | 03/02/2024

A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

Anti-Money Laundering

Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

By Editors | 03/02/2024

The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.