Anti-Money Laundering

Anti-Money Laundering

Pakistan Passes Bill to Establish New AML/CFT Authority

By Editors | 04/08/2023

State Minister for Foreign Affairs Hina Rabbani Khar said the legislation will help to ensure Pakistan remains off the FATF grey list.

Anti-Money Laundering

Lazarus Group Shuffles $8.5m of Stolen Crypto Across Blockchains

By Editors | 04/08/2023

The hacker group is again in the spotlight, after analysts observed the group moving approximately $8.5mn in stolen crypto across multiple blockchains.

Anti-Money Laundering

US Hacker Pleads Guilty Over 2016 Bitfinex Cyber Theft

By Editors | 04/08/2023

Ilya Lichtenstein admitted to being the original hacker in the 2016 cyberattack on Bitfinex and pleaded guilty to conspiracy to commit money laundering.

Anti-Money Laundering

US SEC Flags Deficiencies in Broker Dealer AML Programmes

By Editors | 03/08/2023

Some broker dealers had deficiencies in independent testing, staff training, customer identification and due diligence practices.

Anti-Money Laundering

Mongolia Becomes First APAC Country to Implement All FATF Recommendations

By Ranamita Chakraborty | 03/08/2023

While the 40 FATF Recommendations are not legally binding international conventions, Mongolia sees full compliance as validation for its efforts to improve anti-money laundering capabilities.

Anti-Money Laundering

MAS Proposes Framework for SFOs to Boost AML Measures

By Ranamita Chakraborty | 01/08/2023

The revised framework introduces a harmonised class exemption for single family offices (SFOs) with specific requirements to ensure that all SFOs are subject to anti-money laundering (AML) controls.

Anti-Money Laundering

SBV Issues Circular on Money Laundering Prevention and Control

By Mark Johnston | 01/08/2023

The circular specifies the obligations of reporting entities, including obligations to report high-value and suspicious transactions.

Anti-Money Laundering

US Senate Approves Defence Bill with Provisions Targeting Crypto Mixers

By Editors | 31/07/2023

The US Senate’s approval of the 2024 NDAA includes stringent provisions aimed at cryptocurrency mixers, marking a regulatory milestone.

Anti-Money Laundering

Malaysia Records Surging Suspicious Transactions and Scams

By Ranamita Chakraborty | 31/07/2023

Bank Negara Malaysia’s deputy governor revealed that the central bank’s financial intelligence unit saw a nearly 30 percent increase in suspicious transaction reports compared to the previous year.