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

    AUSTRAC Issues Draft Guidance on AML/CTF Outsourcing Arrangements

    By Manesh Samtani | 27/02/2024

    The guidance is intended to help reporting entities comply with their AML/CTF obligations when outsourcing to external providers.

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    Anti-Money Laundering

    DOJ Proposes Stricter Bond Conditions for Binance Founder

    By Mark Johnston | 27/02/2024

    Judge approves Binance’s settlement. Prosecutors propose stricter bond conditions for founder Changpeng Zhao until sentencing.

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    PEPs & Sanctions

    Ukraine Calls on FATF to Take Stronger Action on Russia

    By Editors | 26/02/2024

    Russia has been procuring missiles from Iran and North Korea for use against Ukraine in violation of UN sanctions, the Ukrainian Finance Ministry said.

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    Supervision & Enforcement

    SkyCity Adelaide Faces A$33M Penalty for Casino Tax Dispute

    By Mark Johnston | 26/02/2024

    SkyCity estimates it owes about A$13mn in back taxes dating back to 2014. Penalty interest could amount to as much as A$20mn.

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    Anti-Money Laundering

    UK FCA Probes Lloyds Banking Group Over AML Controls

    By Mark Johnston | 26/02/2024

    Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

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    Anti-Money Laundering

    S. Korea Has a New System for Tracking Crypto Tax Evaders

    By Mark Johnston | 25/02/2024

    Gyeonggi Province has been using a new digital tracking system that reduces investigation times from 6 months to just 15 days.

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    Fraud, Scams & Cybercrime

    HK Crime Cases Involving Crypto Have Tripled Since 2021

    By Mark Johnston | 25/02/2024

    The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

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    Fraud, Scams & Cybercrime

    Montenegro Court to Extradite Do Kwon to the US, Not Korea

    By Mark Johnston | 23/02/2024

    Montenegro’s High Court decided to approve the US extradition request over South Korea’s, citing the gravity of the charges and the evidence presented by US authorities.

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    Anti-Money Laundering

    FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

    By Manesh Samtani | 23/02/2024

    Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

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    PEPs & Sanctions

    US Unveils Five Enforcement Actions Involving Russian Oligarchs

    By Editors | 23/02/2024

    The actions, including charges against the CEO of Russia’s VTB Bank, were unveiled just ahead of the two-year anniversary of the war in Ukraine.

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