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

    SkyCity Agrees to Pay More Than A$70m for AML Breaches

    By Editors | 02/02/2024

    AUSTRAC launched civil penalty proceedings against SkyCity Adelaide in December 2022. The casino operator just raised its provision for the potential penalty.

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    Anti-Money Laundering

    China to Amend AML Law to Address Virtual Asset Risks

    By Manesh Samtani | 01/02/2024

    Draft amendments bring virtual assets into scope. FIs would also be required to assess money laundering risks before adopting new technologies and launching new products.

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    Anti-Money Laundering

    UK Trial Commences in £5bn Bitcoin Money Laundering Case

    By Editors | 01/02/2024

    Woman is charged for laundering GBP 5 billion stolen from more than 128,000 investors in China on behalf of her former employer.

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    Anti-Money Laundering

    US Court Sentences Lawyer for “OneCoin” Fraud to 20 Years

    By Editors | 01/02/2024

    Mark Scott, formerly an equity partner at international law firm Locke Lord LLP, laundered $400mn of proceeds from the OneCoin fraud scheme.

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    PEPs & Sanctions

    OFAC Sanctions Egypt, Turkey Nationals for Supporting ISIS

    By Editors | 31/01/2024

    Two Egyptian nationals created an online platform that provided instructions on donating funds to ISIS-affiliated entities.

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    Anti-Money Laundering

    Italy Busts $1.9bn Tax Fraud Scheme Involving Chinese Shadow Banks

    By Mark Johnston | 30/01/2024

    Italian police uncover a tax fraud involving false invoices and Chinese underground banks, seizing assets worth EUR 350 million.

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    PEPs & Sanctions

    US Sanctions Iraqi Bank for Enabling Iran-backed Terrorist Activity

    By Editors | 29/01/2024

    US Treasury cut off Al-Huda Bank from the US financial system and sanctioned its owner for serving as a conduit for terrorist financing.

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    Anti-Money Laundering

    Samlit Moneychanger Sued After China Police Freezes Funds: Report

    By Nithya Subramanian | 29/01/2024

    While three Chinese nationals working in Singapore alleged breach of agreements and sought compensation. Samlit said it fulfilled all its obligations.

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    PEPs & Sanctions

    UK Warns of Sanctions Evasion Through Art Storage Sector

    By Editors | 29/01/2024

    Art market participants should have the ability to conduct regular due diligence checks and identify any change in a client’s circumstances or suspicious activity.

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    Anti-Money Laundering

    Japan FSA Proposes to Add Jurisdictions to Travel Rule

    By Editors | 27/01/2024

    Eight countries were added, including the UAE, India, Indonesia, the UK, Estonia, Nigeria, Bahrain, and Portugal.

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