Anti-Money Laundering

Cryptocurrency

HKMA Meets with Crypto Firms on Banking Access Challenges

By Karen Ng | 19/06/2023

Banks operating in Hong Kong should endeavour to meet the legitimate business need of licensed VASPs, the HKMA told Regulation Asia.

Resolution & Recovery

Australia Assessing Adequacy of Crisis Management Settings

By Ranamita Chakraborty | 16/06/2023

Regulators are assessing Australia’s crisis management settings to ensure they remain robust in light of international developments.

Anti-Money Laundering

US Judge Splits Bankman-Fried Charges into Two Separate Trials

By Manesh Samtani | 16/06/2023

Extradition from the Bahamas was agreed to based on only eight charges, not the full 13 charges Sam Bankman-Fried now faces.

Anti-Money Laundering

India to Bring Lawyers Under AML Regime – Report

By Editors | 16/06/2023

Lawyers have reportedly expressed concerns that the plan would have an adverse impact on client attorney privilege.

Anti-Money Laundering

HK Customs Arrests 23 Men for Money Laundering via Air Travel

By Mark Johnston | 16/06/2023

HK Customs officers seized HKD 43 million and arrested 23 men for laundering HKD 720 million via air passengers.

Anti-Money Laundering

Experts Critical of FATF Effectiveness in Combating Kleptocracy

By Manesh Samtani | 14/06/2023

Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

Anti-Money Laundering

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

By Editors | 13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

Anti-Money Laundering

India Accuses Xiaomi and Global Banks of Breaking FX Rules

By Karen Ng | 13/06/2023

Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.

Anti-Money Laundering

Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

By Editors | 12/06/2023

The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.