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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
EU Central Banks Making Progress in Money Laundering Fight
By Ranamita Chakraborty | 12/07/2023
The European Banking Authority (EBA) called upon EU central banks and financial regulators to do more to tackle money laundering/terrorist financing risk despite having made tangible progress through prudential supervision.
Anti-Money Laundering
Australia: Crown Casinos Ordered to Pay Record Breaking Penalty
By Editors | 12/07/2023
Crown will pay A$125mn now, A$125mn within a year, and the remaining A$200mn within two years for AML/CTF breaches.
Anti-Money Laundering
India Allows GST Network to Share Data for AML
By Mark Johnston | 08/07/2023
The GST Network has been added as the 26th entity that must share information with the ED and FIU under the PMLA.
Anti-Money Laundering
MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years
By Karen Ng | 07/07/2023
A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023
Anti-Money Laundering
Philippine Government Agencies, Departments Ordered to Adopt New AML Strategy
By Ranamita Chakraborty | 07/07/2023
The Philippines is looking to remove itself from the Financial Action Task Force’s “grey list” by improving its efforts in anti-money laundering, counter-terrorism financing, and counter-proliferation.
Anti-Money Laundering
FATF to Bring “Fundamental Change” to Financial Crime Fight
By Karen Ng | 06/07/2023
FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.
Capital Adequacy
MAS Reports USD22.8 Billion Net Loss For FY2022/23
By Ranamita Chakraborty | 06/07/2023
MAS announced a net loss of SGD 30.8 billion (USD 22.8 billion), reflecting the effects of monetary policy tightening to bring down inflation.
Anti-Money Laundering
Upper House of UK Parliament Approves Economic Crime Bill
By Editors | 05/07/2023
The bill will boost corporate transparency, enable more effective seizure and recovery of crypto assets, and introduce new ‘failure to prevent’ offences.
Cryptocurrency
Korea Launches New Alerting System for Abnormal Crypto Activity
By Editors | 04/07/2023
DAXA said the alert messages will be triggered by sudden price changes and spikes in trading or deposit volumes, among other indicators.
Anti-Money Laundering
AUSTRAC Spares Bell Financial from Further Regulatory Action
By Sanday Chongo Kabange | 03/07/2023
AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.
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