Anti-Money Laundering

Fraud, Scams & Cybercrime

Turkish Court Sentences Crypto Founder to 11,000 Year Jail Term

By Mark Johnston | 08/09/2023

The founder of Thodex and his two siblings were sentenced for fraud, money laundering and leading a criminal organisation.

Anti-Money Laundering

Foreign Ownership of UK Property Still Not Transparent, Despite Reforms

By Manesh Samtani | 07/09/2023

The biggest reason for missing or inaccessible information on beneficial owners is the use of trusts, according to new research.

Anti-Money Laundering

ACRA Working on Bill to Cap Nominee Directorships – Report

By Editors | 06/09/2023

Amendment bill may also increase financial penalties for corporate service providers that breach their AML obligations.

Anti-Money Laundering

FSS Inspections Find AML Deficiencies at Korean e-Payments Firms

By Editors | 06/09/2023

The FSS said management awareness of AML work within electronic financial businesses is low; internal controls and risk assessments are deficient.

Cryptocurrency

WFE Publishes Research on Exchange Engagement with Crypto Market

By Manesh Samtani | 06/09/2023

WFE survey found that almost half of the respondent exchanges already offer some crypto-related product or service in response to mostly retail demand.

Anti-Money Laundering

APG Spotlights Money Laundering Associated With Tax Crimes

By Manesh Samtani | 06/09/2023

A key and “almost universal” element of money laundering associated with tax crimes is the concealment of beneficial ownership, APG says in a new report.

Anti-Money Laundering

MAS Imposes Lifetime Ban on Former Goldman Exec Roger Ng

By Editors | 05/09/2023

Roger Ng is banned from regulated activities in Singapore for life, due to his role in the theft of billions of dollars from 1MDB.

Anti-Money Laundering

India Ministry Gazettes Enhancements to AML/CFT Rules

By Editors | 05/09/2023

The amendments lower the shareholding threshold for company partners to be considered beneficial owners, from 15 percent to 10 percent

Anti-Money Laundering

Crypto Travel Rule Comes into Force in the UK

By Editors | 04/09/2023

The UK is now one of several jurisdictions to have now implemented the travel rule for the crypto sector.