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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.
Anti-Money Laundering
Myanmar Tightens Restrictions on Cash Withdrawals from Banks
By Mark Johnston | 23/11/2023
Customers are told they need to show strong evidence of need to make large withdrawals.
Anti-Money Laundering
Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks
By Mark Johnston | 23/11/2023
Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.
PEPs & Sanctions
US Jury Convicts Two Individuals for Attempting to Export Iranian Oil to China
By Editors | 23/11/2023
The individuals were accused of conspiring to violate US sanctions through a scheme to sell Iranian-origin petroleum to a Chinese buyer via shell companies.
PEPs & Sanctions
FinCEN Hosts US Banks for Discussion on Russian Export Controls Evasion
By Editors | 23/11/2023
Readout from FinCEN forum includes a list of guidance documents to help financial institutions detect and report transactions related to suspected export controls evasion.
Anti-Money Laundering
AUSTRAC Accepts Enforceable Undertaking from Perth Mint
By Sanday Chongo Kabange | 23/11/2023
The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.
Anti-Money Laundering
FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes
By Manesh Samtani | 23/11/2023
The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.
Anti-Money Laundering
SFC Fines Lion Futures for AML Non-Compliance
By Sanday Chongo Kabange | 23/11/2023
Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.
Cryptocurrency
Crypto Firm Bittrex Global Announces Decision to Cease Operations
By Sanday Chongo Kabange | 22/11/2023
While Bittrex Global did not specify a reason for the decision, regulatory uncertainty is seen as the biggest factor.
Anti-Money Laundering
US Authorities Secure Multi-Billion Dollar Settlement from Binance
By Editors | 21/11/2023
Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.
Anti-Money Laundering
FATF Revises Standards to Improve Asset Recovery Outcomes
By Manesh Samtani | 19/11/2023
FATF has revised its Recommendations and published a new report to promote the use of Asset Recovery Inter-Agency Networks, or ARINs.
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