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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.
Anti-Money Laundering
Companies Commission of Malaysia’s Ravin Kaur Highlights Money Laundering Risks in Shell Companies
By Editors | 20/09/2023
Ravin Kaur, Senior Policy Advisor, AML/CFT Expert at Companies Commission of Malaysia, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, she shared how shell companies are being exploited for money laundering and transnational crime. She called for regulators and gatekeepers to conduct better customer due diligence when onboarding corporate entities to prevent misuse of shell companies.
Supervision & Enforcement
MAS Publishes Latest 18-Month Report on Enforcements
By Editors | 20/09/2023
For 2023 and 2024, MAS will prioritise enforcement in the digital asset ecosystem as well as regulatory compliance by asset and wealth managers.
Anti-Money Laundering
Singapore’s Property Sector Under Scrutiny for Money Laundering Risks
By Ranamita Chakraborty | 19/09/2023
Thong Chee Kun and Gazalle Mok from Rajah & Tann Singapore tell Regulation Asia that it is crucial for real estate developers and agents to conduct regular risk assessments and AML training to identify evolving money laundering risks and techniques.
Anti-Money Laundering
South Korea to Tighten Oversight of OTC Crypto Transactions
By Mark Johnston | 18/09/2023
Korean authorities plan to develop new regulations for OTC crypto transactions and enhance cooperation and information sharing in this area.
Anti-Money Laundering
Sri Lanka Publishes First National Risk Assessment Since 2014
By Duruthu E Chandrasekera | 16/09/2023
The highest risks were identified among informal money remitters, real estate agents, banks and finance companies.
KYC & CDD
Singapore Announces New Initiatives to Support Family Offices
By Editors | 14/09/2023
The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.
Anti-Money Laundering
APG Releases Mutual Evaluation Report for Nepal
By Manesh Samtani | 12/09/2023
Nepal’s AML/CFT regime has undergone significant reform since its 2011 mutual evaluation, however further legislative amendments are needed.
PEPs & Sanctions
FinCEN Sheds Light on Cases of Export Control Evasion
By Editors | 11/09/2023
SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.
PEPs & Sanctions
No Place to Hide: US Court Upholds Sanctions on Decentralised Crypto Platform
By James Gillespie | 11/09/2023
RUSI’s James Gillespie discusses what the Tornado Cash case means for holding DeFi platforms accountable under AML and sanctions laws.
Fraud, Scams & Cybercrime
FinCEN Issues Alert on “Pig Butchering” Scams
By Editors | 11/09/2023
FinCEN provides red flags to help in the identification of pig butchering activity so that FIs can report this activity and enable law enforcement to track down the perpetrators.
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