Anti-Money Laundering

Anti-Money Laundering

MAS Calls for Stronger AML/CFT Controls in Wealth Management

By Editors | 06/03/2023

Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.

KYC & CDD

Pakistan to Launch Blockchain-based KYC Platform for Banks

By Sanday Chongo Kabange | 04/03/2023

Participating banks will be able to perform assessments of their customers using information available at any other bank using the new platform.

Anti-Money Laundering

FATF Explores Financial Crime Risks in Art and Antiquities Markets

By Mark Johnston | 03/03/2023

New report highlights the need for greater awareness and understanding of the risks and collaboration across public and private sectors.

KYC & CDD

SEBI Revisits Plans to Create Database of FPI Beneficial Owners

By Editors | 01/03/2023

SEBI is considering requiring depositories, depository participants, and custodians to feed beneficial ownership information into a central database.

Anti-Money Laundering

FATF Agrees Roadmap to Strengthen Adoption of Crypto AML Standards

By Editors | 28/02/2023

The roadmap will include a stocktake of steps taken globally to regulate and supervise virtual asset service providers.

PEPs & Sanctions

New G7 Sanctions Target Russian Financial Services, Evasion Networks

By Manesh Samtani | 27/02/2023

US Treasury says sanctioned actors use smaller banks and wealth management firms to evade sanctions. FATF has suspended Russia’s membership.

Fraud, Scams & Cybercrime

US Prosecutors Unveil More Charges Against FTX Founder

By Editors | 26/02/2023

The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.

Anti-Money Laundering

FATF Adds South Africa, Nigeria to Grey List

By Editors | 25/02/2023

The South African Reserve Bank said it has a zero-tolerance approach to abuse of the financial system by money launderers or terrorist financiers.

Supervision & Enforcement

FATF Suspends Russia’s Membership Over Ukraine War

By Editors | 25/02/2023

Russia’s actions “unacceptably run counter” to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system.