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

    EU Parliament Adopts AMLD6 and Related Regulations

    By Mark Johnston | 25/04/2024

    The legislation now awaits formal adoption by the European Council before being published in the EU’s Official Journal.

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    Anti-Money Laundering

    US DOJ Proposes 36-Month Prison Sentence for Binance Founder

    By Mark Johnston | 25/04/2024

    The DOJ said the sentence must be significant to effectively punish Changpeng Zhao and to deter others who are tempted to break US laws.

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    Supervision & Enforcement

    South Australia Proposes Higher Penalties for Casino Misconduct

    By Nithya Subramanian | 24/04/2024

    The proposed laws are expected to ensure a greater level of accountability and responsibility, and result in heftier fines for SkyCity.

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    Anti-Money Laundering

    Commerzbank Fined in Germany for AML Violations

    By Mark Johnston | 24/04/2024

    BaFin said Commerzbank was slow to update customer data and inadequately applied enhanced due diligence requirements.

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    Anti-Money Laundering

    HK Customs Busts $230m Crypto Money Laundering Scheme

    By Mark Johnston | 23/04/2024

    Three suspects were arrested for orchestrating over 1,000 dubious transactions through 18 bank accounts linked to shell companies.

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    Cryptocurrency

    Thailand to Start Blocking Unlicensed Crypto Providers

    By Sanday Chongo Kabange | 23/04/2024

    Thailand’s SEC and MDES will start blocking unlicensed digital asset platforms in the country to curb money laundering and online crime.

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    Anti-Money Laundering

    FATF Ministers Pledge Stronger Measures Against Financial Crime

    By Mark Johnston | 23/04/2024

    The FATF has published a Ministers’ Declaration to reinforce their commitment to combating financial crime.

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    Anti-Money Laundering

    HKMA Fines Hua Nan Commercial Bank Over AML/CFT Controls

    By Editors | 22/04/2024

    HKMA identified deficiencies in the bank’s ability to continuously monitor some customer relationships over a six-year period.

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    Anti-Money Laundering

    Singapore Officials Assure Foreign Banks of Stability – Report

    By Nithya Subramanian | 22/04/2024

    Senior government officials have held briefings with international banks to emphasise Singapore’s safety, reliability and trustworthiness.

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    Anti-Money Laundering

    AUSTRAC Fines Eight Firms for Compliance Report Nonsubmission

    By Sanday Chongo Kabange | 22/04/2024

    AUSTRAC issued infringement notices to eight firms that failed to submit their annual compliance reports.

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