ADVERTISEMENT
Anti-Money Laundering
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
UK FCA Urges Firms to Strengthen Anti-Money Mule Controls
By Mark Johnston | 23/10/2023
The FCA published findings from a review of the systems and controls payment account providers have in place to detect and prevent money mule activity.
Anti-Money Laundering
FinCEN Issues Alert to Counter Hamas Financing Activities
By Editors | 23/10/2023
The alert contains red flags that FinCEN has identified to help detect, prevent, and report potential suspicious activity related to Hamas’ terrorist financing activity.
Anti-Money Laundering
Germany’s BaFin Fines Deutsche Bank for STR Filing Delays
By Editors | 23/10/2023
BaFin said Deutsche Bank submitted suspicious transaction reports to the FIU “with a delay”.
Anti-Money Laundering
FATF to Scrutinise India’s Use of NGO Laws Amid Allegations of Misuse
By Editors | 20/10/2023
FATF officials are expected to visit India in November to identify whether India is using its laws to suppress NPOs and civil society groups.
Anti-Money Laundering
KoFIU Calls on Financial Industry to Bolster AML Efforts
By Manesh Samtani | 20/10/2023
AML evaluations identified independent audit, customer verification, and manpower shortages as areas for improvement. More attention is also needed on virtual assets.
Anti-Money Laundering
FinCEN to Require FIs to Report Transactions Involving Crypto Mixers
By Editors | 19/10/2023
FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.
Supervision & Enforcement
Korean Banks Face Increasing Penalties in Foreign Jurisdictions – Report
By Mark Johnston | 19/10/2023
Korea’s four largest banks have seen a 180-fold increase in fines and penalties imposed by foreign authorities in the past three years.
KYC & CDD
RBI Revises KYC Guidelines to Reflect Recent AML Law Changes
By Sanday Chongo Kabange | 18/10/2023
The amendments cover beneficial owner identification, customer due diligence, information-sharing policies, and other areas.
PEPs & Sanctions
OFAC Sanctions Hamas Operatives, Financial Facilitators
By Editors | 18/10/2023
OFAC is targeting Hamas members managing a “secret” investment portfolio, a Qatar-based financial facilitator, and a Gaza-based crypto exchange.
Anti-Money Laundering
MAS to Commence Bank AML Inspections Within Weeks – Report
By Editors | 18/10/2023
The inspections will target banks whose clients were among those charged in Singapore’s S$2.8bn money laundering case.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.