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Anti-Money Laundering
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Cryptocurrency
Binance, KuCoin to Return to India as Compliant Crypto Exchanges
By Ajoy K Das | 19/04/2024
Binance will pay a $2mn penalty and return to India as a registered firm. Kucoin announced its return last month.
KYC & CDD
UK Launches Global Initiative to Enhance Corporate Transparency
By Mark Johnston | 18/04/2024
The UK government has announced a global call to action for increased transparency in company ownership.
Anti-Money Laundering
China Set to Consider Draft Revision to AML Law
By Editors | 18/04/2024
The revision will expand the scope of money laundering predicate crimes, raise the penalties for offences, and expand the scope of the law to cover more non-bank entities.
Anti-Money Laundering
HKMA Offers New Guidance on Transaction Monitoring
By Manesh Samtani | 17/04/2024
The guidance is based on a thematic review of TM systems, which also explored how FIs adopt artificial intelligence to optimise performance.
Anti-Money Laundering
Third Man Jailed in Singapore’s Billion Dollar Money Laundering Case
By Nithya Subramanian | 17/04/2024
Chinese national Wang Baosen jailed for 13 months and required to forfeit over S$8mn in assets as part of his plea deal.
Anti-Money Laundering
Australian Senator Calls on AUSTRAC to Investigate TikTok
By Nithya Subramanian | 17/04/2024
TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.
Anti-Money Laundering
US, China Commence Meetings on AML, Financial Sector Resilience
By Mark Johnston | 16/04/2024
At the AML/CFT meetings, officials discussed virtual assets and beneficial ownership, with both sides agreeing to continue meeting regularly.
KYC & CDD
Multiple US Regulators Probing Morgan Stanley’s Wealth Arm – Report
By Nithya Subramanian | 16/04/2024
US regulators are assessing whether the bank has sufficiently investigated the identities of clients and their sources of wealth.
Fraud, Scams & Cybercrime
Thailand to Tighten Rules for P2P Trading of Crypto
By Nithya Subramanian | 15/04/2024
Thai Minister calls on SEC to extend existing crypto regulations to cover P2P channels as a way to combat fraud and scams.
Fraud, Scams & Cybercrime
Taiwan Crypto Exchange Founder Charged for Money Laundering
By Nithya Subramanian | 12/04/2024
Taiwanese prosecutors have indicted the founder of ACE Exchange, David Pan, for a crypto fraud involving more than $10mn.
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