Anti-Money Laundering

Anti-Money Laundering

Frankfurt Selected to Host EU Anti-Money Laundering Authority

By Mark Johnston | 23/02/2024

Frankfurt was chosen following a competitive bidding process that involved eight other countries. The AMLA will start operations in mid-2025.

Anti-Bribery & Corruption

Hong Kong Launches Global Anti Corruption Academy

By Sanday Chongo Kabange | 23/02/2024

The academy will offer tailored training on corruption prevision and AML to officers from around the world.

Anti-Money Laundering

Alternative Fund Managers Face Growing AML Risks: Study

By Ranamita Chakraborty | 22/02/2024

Several alternative fund firms faced AML fines and few were visited by regulators over money laundering concerns.

Structural Regulation

EU Removes Four Jurisdictions from Tax Blacklist

By Mark Johnston | 22/02/2024

Hong Kong was also removed from the EU’s state-of-play document for making further improvements to its tax policies.

KYC & CDD

India to Centralise FATCA, CRS Certifications at KYC Registration Agencies

By Ajoy K Das | 21/02/2024

RFIs are directed to upload certifications under FATCA and CRS received from clients directly into the KRA system.

Anti-Money Laundering

Australia to “Shortly” Issue New Consultation on Tranche 2 AML Reforms

By Manesh Samtani | 20/02/2024

Officials said feedback to last year’s consultation was “very supportive” and the upcoming consultation will be more detailed.

Anti-Money Laundering

Seven Arrested in Hong Kong’s Largest Ever Money Laundering Case

By Sanday Chongo Kabange | 19/02/2024

The case involves a total of about HK$14 billion of suspected crime proceeds. HK$185 million in assets has so far been frozen or seized.

Anti-Money Laundering

SkyCity Facing NZ Court Proceedings for Alleged AML Failures

By Sanday Chongo Kabange | 19/02/2024

The DIA alleges that SkyCity did not meet various obligations required under the AML/CFT Act.

Anti-Money Laundering

BaFin Warns Deutsche Bank Over Transaction Monitoring Systems

By Mark Johnston | 19/02/2024

The mandate of a special monitor appointed in 2018 is being extended until end-October to oversee efforts to enhance the bank’s systems for processing transaction data.