Anti-Money Laundering

Anti-Money Laundering

Assets Involved in Singapore Money Laundering Case Reach S$2.4 Billion

By Editors | 22/09/2023

Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.

Supervision & Enforcement

FATF, INTERPOL Host Second Ever Joint Engagement on Asset Recovery

By Manesh Samtani | 21/09/2023

FATF president T Raja Kumar said there needs to be a major mindset and culture shift to focus on asset recovery as a national law enforcement priority.

Fraud, Scams & Cybercrime

HK Police Force Hosts First-ever Cyber Policing Symposium

By Editors | 20/09/2023

Hong Kong and Mainland officials called for greater cross-border cooperation between law enforcement agencies to deal with cybercrime threats.

Anti-Money Laundering

Companies Commission of Malaysia’s Ravin Kaur Highlights Money Laundering Risks in Shell Companies

By Editors | 20/09/2023

Ravin Kaur, Senior Policy Advisor, AML/CFT Expert at Companies Commission of Malaysia, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, she shared how shell companies are being exploited for money laundering and transnational crime. She called for regulators and gatekeepers to conduct better customer due diligence when onboarding corporate entities to prevent misuse of shell companies.

Supervision & Enforcement

MAS Publishes Latest 18-Month Report on Enforcements

By Editors | 20/09/2023

For 2023 and 2024, MAS will prioritise enforcement in the digital asset ecosystem as well as regulatory compliance by asset and wealth managers.

Anti-Money Laundering

Singapore’s Property Sector Under Scrutiny for Money Laundering Risks

By Ranamita Chakraborty | 19/09/2023

Thong Chee Kun and Gazalle Mok from Rajah & Tann Singapore tell Regulation Asia that it is crucial for real estate developers and agents to conduct regular risk assessments and AML training to identify evolving money laundering risks and techniques.

Anti-Money Laundering

South Korea to Tighten Oversight of OTC Crypto Transactions

By Mark Johnston | 18/09/2023

Korean authorities plan to develop new regulations for OTC crypto transactions and enhance cooperation and information sharing in this area.

Anti-Money Laundering

Sri Lanka Publishes First National Risk Assessment Since 2014

By Duruthu E Chandrasekera | 16/09/2023

The highest risks were identified among informal money remitters, real estate agents, banks and finance companies.

KYC & CDD

Singapore Announces New Initiatives to Support Family Offices

By Editors | 14/09/2023

The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.