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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.
Conduct, Culture & Accountability
MAS: “Much Room for Improvement” in Issue Manager Conduct
By Editors | 18/04/2023
MAS identified issue managers that did not perform conflict-of-interest checks, background checks on EDs and controlling shareholders, and site visits to issuers’ material assets.
Anti-Money Laundering
Australia Revisits ‘Tranche 2’ AML Reforms – Report
By Editors | 17/04/2023
The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.
PEPs & Sanctions
G7 Says Switzerland Is Not Doing Enough to Combat Sanctions Evasion
By Editors | 17/04/2023
Switzerland, though officially neutral, has frozen Russian assets worth about a third of the EUR 21.5 billion frozen across the EU.
Fraud, Scams & Cybercrime
Hong Kong Police Bust SIM Card Fraud Ring Linked to Triads
By Mark Johnston | 16/04/2023
The suspects registered SIM cards with fake IDs and sold them to scammers who created social media accounts to lure victims.
Anti-Money Laundering
Working Group Formed to Update Crypto’s IVMS101 Standard
By Manesh Samtani | 16/04/2023
The working group will update the IVMS101 standard and develop other standards to create “greater consistency and integrity” within the crypto ecosystem.
PEPs & Sanctions
OFAC Sanctions Chinese Entities in Fentanyl Supply Chain
By Editors | 14/04/2023
The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.
Anti-Money Laundering
UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China
By Editors | 14/04/2023
Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.
DeFi & Web3
Hong Kong Doubles Down on Pledge to Develop Web3
By Editors | 13/04/2023
Financial Secretary Paul Chan said crypto market volatility provides an opportunity for Web3 development. SFC official said DeFi platforms require licensing.
Anti-Money Laundering
EU-Funded Report Explores Crypto Use in Darknet Markets
By Mark Johnston | 12/04/2023
Law enforcement needs training, resources, technology and cooperation to effectively investigate darknet markets, which grew 469-fold between 2011 and 2020.
Supervision & Enforcement
China Fines Crypto Miner Bitmain for Tax Violations
By Manesh Samtani | 12/04/2023
Bitmain’s Beijing unit failed to withhold and pay personal income tax on employees’ salaries and other benefits totalling CNY 16.6 million.
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