Anti-Money Laundering

Anti-Money Laundering

Singapore Unveils Planned Measures to Strengthen AML Regime

By Manesh Samtani | 04/10/2023

The government will set up an inter-ministerial committee to review the AML regime and consider tightening rules for luxury goods, family offices and immigration.

KYC & CDD

Open Ownership Integrates LEI Into Beneficial Ownership Datasets

By Editors | 01/10/2023

LEIs are now embedded into Open Ownership data records, which GLEIF says will allow easier identification of corporate beneficial owners and controllers.

Anti-Money Laundering

US Regulators Penalise Shinhan Bank for AML Violations

By Mark Johnston | 01/10/2023

The US subsidiary of South Korea’s Shinhan Bank will pay a USD 15 million penalty to settle cases from FinCEN, the FDIC, and NYDFS.

Clearing & Post-Trade

ESMA Withdraws JSE Clear’s Recognition Decision

By Editors | 29/09/2023

JSE Clear will no longer be permitted to provide clearing services to clearing members or trading venues in the EU.

Anti-Money Laundering

Indian Lawmakers Demand Parliamentary Probe into Adani Group

By Mark Johnston | 29/09/2023

The Congress party says SEBI is reluctant to investigate the allegations against the Adani Group, one of the largest conglomerates in India.

KYC & CDD

AUSTRAC Issues Customer Identification Guidance for Gambling Providers

By Sanday Chongo Kabange | 29/09/2023

From September 2024, online gambling providers must complete applicable customer identification procedures before offering gambling services.

KYC & CDD

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

By Editors | 27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

Supervision & Enforcement

JPMorgan Settles Remaining Epstein-related Lawsuits

By Editors | 27/09/2023

The bank will pay $75mn to the US Virgin Islands and has also settled its own lawsuit against former executive Jes Staley for an undisclosed sum.

Cryptocurrency

Taiwan Issues New Regulatory Guidelines for Crypto Sector

By Manesh Samtani | 27/09/2023

Overseas crypto platforms are not allowed to solicit business within Taiwan or from Taiwanese citizens unless they register locally and comply with local AML laws.