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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.
PEPs & Sanctions
MAS Issues Additional Guidance on Managing Sanctions Risk
By Manesh Samtani | 31/08/2023
The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.
Anti-Money Laundering
Understanding the Value of Global Identifiers in the Fight Against Financial Crime
By Clare Rowley | 31/08/2023
Clare Rowley explores how the LEI is uniquely positioned to strengthen the fight against international financial crime.
Fraud, Scams & Cybercrime
Korea Reopens Investigations into Handling of Lime Funds
By Editors | 31/08/2023
Search and seizure operations were carried out at two securities firms on Thursday. Additional inspections at a third firm.
Anti-Money Laundering
Switzerland Proposes Strengthening of AML Framework
By Manesh Samtani | 31/08/2023
The proposed framework would enhance beneficial ownership transparency and make lawyers, consultants and accountants responsible for AML checks.
Supervision & Enforcement
US SEC Fines Citigroup for ‘Wilful’ Record-Keeping Violations
By Editors | 30/08/2023
The SEC said Citigroup Global Markets used an “unsubstantiated and unverified” method to calculate and record indirect expenses associated with its underwriting work.
Anti-Money Laundering
FATF Releases Mutual Evaluation Report for Brunei
By Manesh Samtani | 30/08/2023
The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.
Fraud, Scams & Cybercrime
UN Report Calls for Action to Address Scam Operations in Southeast Asia
By Sanday Chongo Kabange | 30/08/2023
The report says people who are forced to work in scamming operations endure “inhumane treatment” and should be treated as victims, not criminals.
Anti-Money Laundering
Laos AML/CFT Regime Has “Significant Deficiencies” – FATF
By Manesh Samtani | 30/08/2023
Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.
Anti-Money Laundering
Singapore AML Probe Expands to Precious Metals, Property Agents
By Manesh Samtani | 29/08/2023
MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.
Anti-Money Laundering
HK Police Arrest 11 in HK$124m Money Laundering Case
By Editors | 27/08/2023
Police believe the laundered funds could be tied to more than 20 fraud cases, including email and loan scams, and commercial and investment fraud.
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