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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
HK Customs “Smashes” Syndicate That Laundered HK$6b
By Editors | 18/01/2023
A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was “successfully smashed”.
Anti-Money Laundering
UK Linked ‘Golden Visas’ to Crime Years Ago
By Editors | 18/01/2023
A review commissioned in 2018 and “kept secret for years” found a disproportionate number of golden visa applicants were from countries identified as high risk.
Cryptocurrency
2022: A Roaring Year for Digital Assets in Singapore
By Angela Ang | 18/01/2023
Angela Ang looks back at digital asset developments in 2022 in Singapore, and ahead to what to expect in 2023.
Supervision & Enforcement
Korean Savings Banks Directed to Improve Internal Controls
By Editors | 17/01/2023
New guidelines require the use of biometric authentication systems to prevent password sharing among managers and employees.
Anti-Money Laundering
FATF Publishes Consolidated Table of Assessment Ratings
By Editors | 15/01/2023
FATF members reportedly blocked proposals that could have more meaningfully reformed the process for adding countries to the blacklist and greylist.
Anti-Money Laundering
GCFFC Establishes APAC Regional Chapter
By Editors | 13/01/2023
The APAC Chapter is led by DBS Bank’s Debra Au and Westpac’s Jodie Arthur serving as co-chairs, and Napier’s Robin Lee serving as vice chair.
Anti-Money Laundering
UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures
By Editors | 13/01/2023
The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.
Fraud, Scams & Cybercrime
Financial Crime: Threats, Challenges, and Priorities for 2023
By Manesh Samtani | 12/01/2023
RUSI’s Tom Keatinge discusses the continuing focus on fraud and scams in Asia, and work underway on asset recovery, sanctions, and environmental crime.
Anti-Money Laundering
Korean Authorities Investigate Bithumb for Possible Tax Evasion
By Editors | 11/01/2023
Tax authorities raided Bithumb’s headquarters in Seoul on Tuesday. Two of its former chairmen have also been the subject of separate probes.
Anti-Money Laundering
UK FCA Fines Nigeria’s Guaranty Trust Bank for AML Weaknesses
By Editors | 11/01/2023
The FCA said the bank’s behaviour mirrored previous misconduct, for which it was also fined in 2013 and had restrictions imposed in 2018.
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