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

    Crypto Firms Lead Surge in AML Fines: Report

    By Mark Johnston | 15/01/2024

    Fenergo’s annual report reveals a 57 per cent surge in penalties for non-compliance with financial regulations in 2023.

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    PEPs & Sanctions

    US Sanctions HK, UAE Companies to Target Houthi Revenues

    By Editors | 15/01/2024

    OFAC also identified four vessels as blocked property for their involvement in shipping Iranian commodities on behalf of a Houthi financial facilitator.

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    Anti-Money Laundering

    SC Malaysia Charges Three for Money Laundering Offences

    By Sanday Chongo Kabange | 15/01/2024

    The three individuals face a combined 28 money laundering charges over illegal proceeds totalling MYR 283.5 million.

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    KYC & CDD

    Wolfsberg Group Updates Guidance on Swift RMA Due Diligence

    By Mark Johnston | 12/01/2024

    The Wolfsberg Group has revised its guidance on Swift RMA due diligence, taking into account ISO 20022 migration.

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    Cryptocurrency

    FINRA Report Describes Crypto-related Compliance Risks

    By Mark Johnston | 12/01/2024

    FINRA says member firms must notify it if they or their affiliates engage or plan to engage in crypto asset-related activities.

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    Supervision & Enforcement

    Transparency and Independent Oversight Main Issues of FATF: Experts

    By Nithya Subramanian | 11/01/2024

    A roundtable organised by RUSI concluded that marginal reforms aimed at improving transparency could be more successful and impactful.

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    Anti-Money Laundering

    RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

    By Ranamita Chakraborty | 11/01/2024

    The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

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    Anti-Money Laundering

    SFC Sanctions Responsible Officer Over Licensee AML Compliance Failures

    By Sanday Chongo Kabange | 10/01/2024

    The SFC suspended Andy Wong Yeung for 10 months over his role in City International Futures’ AML compliance failures.

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    Anti-Money Laundering

    Singapore Tables Bill to Strengthen Measures Against PF Risk

    By Editors | 10/01/2024

    Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

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    Anti-Money Laundering

    Vietnam: SBV Directs Banks to Strengthen AML Controls

    By Sanday Chongo Kabange | 08/01/2024

    The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

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