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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
Australia Opens Consultation on ‘Tranche 2’ AML Reforms
By Sanday Chongo Kabange | 21/04/2023
The proposed reforms will extend the AML/CTF regime to lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.
Anti-Money Laundering
BNM, FICG to Co-host AML/CFT Hackathon in June
By Editors | 21/04/2023
The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.
PEPs & Sanctions
Lack of Vessel Ownership Data an Indicator of High Risk
By Manesh Samtani | 20/04/2023
69.2% of vessels with unknown beneficial owners have engaged in risky or sanction-violating behaviour, report finds.
Anti-Money Laundering
FATF Reiterates Calls for Global Adoption of Crypto AML Rules
By Editors | 20/04/2023
At a meeting in Tokyo last week, officials and the private sector discussed global progress and challenges in regulating virtual assets.
Supervision & Enforcement
Malaysia to Re-evaluate Goldman Settlement Over 1MDB
By Editors | 19/04/2023
The government believes the 2020 deal “was done hastily” and could have resulted in more public funds being recovered.
Anti-Money Laundering
UK Watchdog Faces Surge in AML Whistleblower Reports
By Mark Johnston | 18/04/2023
The UK FCA has received 141 reports from insiders who raised concerns about their firms’ AML controls in the past six years.
Anti-Money Laundering
Russian National Receives Light Sentence for Laundering Ransomware Proceeds
By Mark Johnston | 18/04/2023
Denis Dubnikov laundered money for the Ryuk ransomware gang, but pleaded guilty and cooperated with investigators.
KYC & CDD
GDF Consults on Wolfsberg-style DDQ for VASPs
By Editors | 18/04/2023
The questionnaire is intended for use by VASPs and other financial institutions including banks for onboarding VASPs.
KYC & CDD
GLEIF Maps LEIs to Records in OpenCorporates Database
By Editors | 18/04/2023
The mapping exercise will ensure the “highest quality reference data” is quickly and easily available to all, said GLEIF CEO Stephan Wolf.
Anti-Money Laundering
New Singapore Bills Target Money Mules, Singpass Abuse
By Manesh Samtani | 18/04/2023
The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.
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