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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.
PEPs & Sanctions
Philippine AMLC Issues New Sanctions Screening Guidance
By Editors | 13/05/2023
An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.
Anti-Money Laundering
India Brings Company Formation Agents into Scope of AML Law
By Sanday Chongo Kabange | 11/05/2023
Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.
Market Abuse
S. Korea: Key Suspect Detained in Stock Manipulation Case
By Editors | 10/05/2023
Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.
Anti-Money Laundering
Australia Budget Offers Funding for AML, Scams, Cyber
By Manesh Samtani | 10/05/2023
Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.
Anti-Money Laundering
MAS Proposes Amendments to Payment Services Regulations
By Editors | 09/05/2023
The consultation covers amendments to Payment Services Regulations and existing notices to include newly scoped-in payment services like DPT services.
Anti-Money Laundering
Singapore Passes Bill to Enable Data Sharing via COSMIC
By Editors | 09/05/2023
COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.
Anti-Money Laundering
HKMA Calls for Broader Adoption of Network Analytics by Banks
By Manesh Samtani | 09/05/2023
Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.
Anti-Money Laundering
HK Companies Registry Issues AML Guidance for TCSP Licensees
By Editors | 09/05/2023
New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.
Supervision & Enforcement
China’s SAFE Fines Bank of Shanghai for FX-related Violations
By Editors | 08/05/2023
The fine is the largest issued against a Chinese bank this year. In 2022, Bank of Shanghai had more complaints against it than any other corporate bank.
Anti-Money Laundering
India Amends Laws Governing Accountants, Company Secretaries
By Editors | 05/05/2023
Chartered accountants, company secretaries, and cost and work accountants will have to maintain records of all financial transactions for clients.
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