Anti-Money Laundering

Anti-Money Laundering

Indian Authorities Probe Aviva for Alleged Tax Evasion – Report

By Ajoy K Das | 17/11/2023

Inspectors from the Directorate General of GST Intelligence seized laptops from Aviva and questioned some of its top officials.

Anti-Money Laundering

FATF Updates Standards to Address Adverse Outcomes Facing NPOs

By Editors | 17/11/2023

The FATF adopted amendments to Recommendation 8 and its Interpretive Note and updated its best practices paper on combatting TF abuse of NPOs.

Anti-Money Laundering

Pacific Islands to Bolster Sharing of Financial Intelligence

By Editors | 17/11/2023

Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.

Anti-Money Laundering

MAS Issues Draft Requirements for Data Sharing Through COSMIC

By Manesh Samtani | 17/11/2023

The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.

Fraud, Scams & Cybercrime

Singapore Police Make Five Arrests in Anti-scam Operation

By Editors | 16/11/2023

The police acted on information from DBS, seizing S$680,000 and arresting five individuals including a 16-year-old.

Anti-Money Laundering

Taiwan Crypto Exchange Caught in Money Laundering Probe

By Editors | 16/11/2023

Crypto exchange Bitgin is under investigation and its chief operating officer has been arrested for his alleged ties to a money laundering network.

KYC & CDD

Fenergo Awarded Best KYC, CDD & Onboarding Solution

By Editors | 16/11/2023

Fenergo was recognised for Fenergo KYC, which judges said was “comprehensive, highly configurable, and can be easily integrated into existing workflows”.

KYC & CDD

Fenergo Awarded Best Client Lifecycle Management Solution 

By Editors | 16/11/2023

Fenergo was recognised for its SaaS platform that enables financial institutions to digitally manage the end-to-end client onboarding and lifecycle experience.

Anti-Money Laundering

SFC Issues Updated AML/CFT Self-Assessment Checklist

By Editors | 15/11/2023

The updated checklist incorporates the May revisions to the SFC’s existing AML/CFT guideline, including to apply additional questions on virtual asset activities.