Anti-Money Laundering

Anti-Money Laundering

UN Chief Calls for Global Tax Reform, Criticises OECD

By Mark Johnston | 09/08/2023

The UN Secretary-General calls for more UN involvement in setting and enforcing global tax standards.

KYC & CDD

AUSTRAC to Implement Pre-verification Requirement for Online Gambling

By Editors | 08/08/2023

Identification verification procedures must be carried out before online gambling services are provided to customers, starting 29 September.

Anti-Money Laundering

Bangladesh Court Orders Probe into Conglomerate’s Offshore Investments

By Mark Johnston | 08/08/2023

The probe will investigate the owner of S Alam Group over an alleged $1bn in investments made offshore without central bank permission.

Supervision & Enforcement

Australia Announces ‘Crackdown’ on Tax Adviser Misconduct

By Manesh Samtani | 08/08/2023

The maximum penalties for tax advisers who promote tax exploitation schemes will increase 100-fold to more than A$780mn.

Anti-Money Laundering

Pakistan Passes Bill to Establish New AML/CFT Authority

By Editors | 04/08/2023

State Minister for Foreign Affairs Hina Rabbani Khar said the legislation will help to ensure Pakistan remains off the FATF grey list.

Anti-Money Laundering

Lazarus Group Shuffles $8.5m of Stolen Crypto Across Blockchains

By Editors | 04/08/2023

The hacker group is again in the spotlight, after analysts observed the group moving approximately $8.5mn in stolen crypto across multiple blockchains.

Anti-Money Laundering

US Hacker Pleads Guilty Over 2016 Bitfinex Cyber Theft

By Editors | 04/08/2023

Ilya Lichtenstein admitted to being the original hacker in the 2016 cyberattack on Bitfinex and pleaded guilty to conspiracy to commit money laundering.

Anti-Money Laundering

US SEC Flags Deficiencies in Broker Dealer AML Programmes

By Editors | 03/08/2023

Some broker dealers had deficiencies in independent testing, staff training, customer identification and due diligence practices.

Anti-Money Laundering

Mongolia Becomes First APAC Country to Implement All FATF Recommendations

By Ranamita Chakraborty | 03/08/2023

While the 40 FATF Recommendations are not legally binding international conventions, Mongolia sees full compliance as validation for its efforts to improve anti-money laundering capabilities.