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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.
Supervision & Enforcement
Korea FSS to Continue ‘High-intensity Supervision’ of Banks
By Editors | 15/10/2023
The FSS shared the results of self-inspections by banks to assess their internal controls for preventing embezzlement and other ‘financial accidents’.
Anti-Money Laundering
SEBI Revises AML Guidelines for Securities Market Intermediaries
By Mark Johnston | 13/10/2023
The revisions lower the shareholding threshold for partners of a firm to be considered as beneficial owners from 15 to 10 percent, among other changes.
Anti-Money Laundering
Malaysia to Enhance Beneficial Ownership Reporting Requirements
By Editors | 11/10/2023
Companies will have to keep and maintain a register of beneficial owners at their registered offices and report any changes within 14 days.
Anti-Money Laundering
ML/TF Risks Facing the Australian Legal Profession: Report
By Manesh Samtani | 11/10/2023
Luke Murphy, president of the Law Council of Australia, said there are vulnerabilities but they can be managed by augmenting existing controls.
Anti-Money Laundering
Singapore Court Sentences Ex-Wirecard Employee to Jail
By Editors | 11/10/2023
The former junior finance executive was sentenced to ten weeks in jail for helping a supervisor embezzle S$47,000.
PEPs & Sanctions
OFAC Sanctions Target Drug Trafficking, Crypto Abuse – Chainalysis
By Jill Wong | 10/10/2023
OFAC sanctions against several Chinese entities are an important step in preventing crypto abuse by criminal syndicates, Chainalysis says.
Anti-Money Laundering
US Court Orders Return of Ex-Goldman Banker Roger Ng to Malaysia
By Manesh Samtani | 07/10/2023
Roger Ng already has to serve ten years in a US prison, but he will first be transported back to Malaysia to face other 1MDB-related charges and help in the 1MDB probe.
Anti-Money Laundering
Pakistan Set to Establish Autonomous AML Authority – Report
By Sanday Chongo Kabange | 06/10/2023
The authority will be tasked with tracking and monitoring money laundering and terrorist financing, while also serving as a policymaking body.
Anti-Money Laundering
Singapore Property Agents Found Guilty of Breaching AML Rules – Report
By Editors | 06/10/2023
The agents failed to comply with regulations relating to obtaining, documenting and verifying the accuracy of the identifying information of the buyers.
Payments & Settlements
APAC Central Banks Explore Common Protocol for Regulatory Policy
By Manesh Samtani | 05/10/2023
Project Mandala will be run by BIS Innovation Hub Singapore Centre, along with the RBA, BOK, BNM and MAS, with collaboration from FIs.
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