Anti-Money Laundering

Fraud, Scams & Cybercrime

INTERPOL: $300m in Assets Seized in Latest HAECHI Operation

By Mark Johnston | 20/12/2023

The latest HAECHI operation resulted in nearly 3,500 arrests and the blocking of over 82,000 bank accounts linked to cyber-enabled scams.

Anti-Money Laundering

MAS Boosts Due Diligence Checks for SFO Tax Incentive Applicants

By Ranamita Chakraborty | 20/12/2023

To combat money laundering risks, MAS plans to deploy a panel of “specialised firms” to scrutinise individuals and entities associated with SFOs.

Anti-Bribery & Corruption

HK ICAC Charges Two in Bribery Case Involving ICBC Unit

By Editors | 20/12/2023

A shipping consultancy director bribed a former executive of ICBC Financial Leasing to secure a consultancy contract for an iron ore shipping project.

Anti-Money Laundering

Japan FSA Issues AML/CFT Guidelines for CPAs, Auditors

By Mark Johnston | 19/12/2023

The guidelines require CPAs to verify client identities, keep 7 years of transaction records, provide AML/CFT training to staff, and report suspicious transactions.

DeFi & Web3

IOSCO Finalises Policy Recommendations for DeFi

By Manesh Samtani | 19/12/2023

The policy recommendations for DeFi are intended to be complementary to and interoperable with IOSCO’s policy recommendations for crypto and digital assets markets.

Anti-Money Laundering

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

Payments & Settlements

China Issues New Rules for Non-bank Payment Institutions

By Manesh Samtani | 19/12/2023

Regulators are imposing stricter licensing, business management, risk management and user protection rules on non-bank payment institutions.

Cryptocurrency

Korea Showing Leadership on Crypto Assets, Says IMF Head

By Mark Johnston | 18/12/2023

Korea is showing leadership by amending its AML law and setting up new legislation on crypto assets, said the IMF’s Kristalina Georgieva.

PEPs & Sanctions

Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch

By Editors | 18/12/2023

Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.