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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.
Supervision & Enforcement
US SEC Fines Citigroup for ‘Wilful’ Record-Keeping Violations
By Editors | 30/08/2023
The SEC said Citigroup Global Markets used an “unsubstantiated and unverified” method to calculate and record indirect expenses associated with its underwriting work.
Anti-Money Laundering
FATF Releases Mutual Evaluation Report for Brunei
By Manesh Samtani | 30/08/2023
The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.
Fraud, Scams & Cybercrime
UN Report Calls for Action to Address Scam Operations in Southeast Asia
By Sanday Chongo Kabange | 30/08/2023
The report says people who are forced to work in scamming operations endure “inhumane treatment” and should be treated as victims, not criminals.
Anti-Money Laundering
Laos AML/CFT Regime Has “Significant Deficiencies” – FATF
By Manesh Samtani | 30/08/2023
Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.
Anti-Money Laundering
Singapore AML Probe Expands to Precious Metals, Property Agents
By Manesh Samtani | 29/08/2023
MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.
Anti-Money Laundering
HK Police Arrest 11 in HK$124m Money Laundering Case
By Editors | 27/08/2023
Police believe the laundered funds could be tied to more than 20 fraud cases, including email and loan scams, and commercial and investment fraud.
Supervision & Enforcement
Indonesia OJK Issues New Regulations on Criminal Investigations
By Editors | 25/08/2023
The new regulations empower OJK to decide whether to pursue investigations, and agree to resolutions with the parties responsible for a criminal offence.
Anti-Money Laundering
Malaysia Considers Lawsuit Against Goldman Sachs Over 1MDB
By Editors | 25/08/2023
Prime minister Anwar Ibrahim said as much as 68% of the 1MDB losses have been recovered, but that his administration is considering ways to recover more from Goldman.
Market Abuse
US Court Jails Former OpenSea Exec for NFT Insider Trading
By Mark Johnston | 24/08/2023
Nate Chastain will spend three months in prison, followed by three months of home confinement, and three years of supervised release.
PEPs & Sanctions
US Sanctions Tornado Cash Co-founder, Arrests Another
By Manesh Samtani | 24/08/2023
Russian national Roman Semenov was added to OFAC’s sanctions list. Another co-founder, Roman Storm, was arrested on Wednesday.
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