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

    Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards

    By Nithya Subramanian | 12/03/2024

    COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.

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    PEPs & Sanctions

    Canadian FIs Required to Treat Russia as FATF-Blacklisted

    By Editors | 12/03/2024

    A ministerial directive requires Canadian FIs to treat every financial transaction connected to Russia as high-risk regardless of size.

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    Anti-Money Laundering

    UK Launches Action Plan to Combat Money Muling

    By Mark Johnston | 10/03/2024

    The UK government has announced a 22-point action plan to disrupt money mule activity and support exploited victims.

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    Fraud, Scams & Cybercrime

    UK Companies House Probes Erroneous Filings in Corporate Register

    By Editors | 08/03/2024

    Companies House this week gained new powers that allow it greater powers to query information and request supporting evidence.

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    Anti-Money Laundering

    FCA Gives Firms 6 Months to Address Financial Crime Concerns

    By Editors | 07/03/2024

    The regulator found controls that haven’t kept pace with business growth, firms that aren’t properly resourced, and failures to properly assess risks.

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    Anti-Money Laundering

    AUSTRAC Launches AML Probe Into Gambling Company Bet365

    By Sanday Chongo Kabange | 07/03/2024

    The probe follows a Nov 2022 order from AUSTRAC requiring Bet365 to appoint an external auditor to assess AML/CTF compliance.

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    Cryptocurrency

    Hong Kong: More Clarity Needed on Proposed OTC Crypto Regime

    By Nithya Subramanian | 07/03/2024

    Clarity is needed on the scope of activities captured by the regime, how stablecoins will fit into the regime, and how professional investors will be treated.

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    Anti-Money Laundering

    BSP to Enhance Reporting Rules for Money Services Businesses

    By Editors | 06/03/2024

    MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

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    Anti-Money Laundering

    Singapore ACRA to Streamline Corporate Regulatory Processes

    By Nithya Subramanian | 06/03/2024

    A tiered framework will be established to enable ACRA to disclose data to meet statutory obligations relating to anti-money laundering.

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    Anti-Money Laundering

    Singapore Shell Companies Linked to Illicit Activity in India

    By Nithya Subramanian | 06/03/2024

    India’s Enforcement Directorate has uncovered a web of money laundering activities involving the use of shell companies from Singapore.

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