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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.
Cryptocurrency
Digital Asset Developments in South Korea: Balancing Innovation and Risk
By Rahul Advani | 15/03/2023
South Korea’s thoughtful approach to regulating digital assets will foster growth and innovation and result in a more vibrant and inclusive digital economy, say Rahul Advani and Angela Ang.
Structural Regulation
LBMA to Probe Perth Mint ‘Gold Doping’ Allegations
By Editors | 14/03/2023
Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.
Anti-Money Laundering
AUSTRAC Launches Specialist AML Unit for Gambling Sector
By Editors | 13/03/2023
AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.
Anti-Money Laundering
FATF Finalises Revisions to Recommendation 24 Guidance
By Editors | 13/03/2023
The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.
Anti-Bribery & Corruption
Former Malaysian PM Muhyiddin Charged With Corruption
By Editors | 13/03/2023
Former prime minister Muhyiddin Yassin was charged with four counts of abuse of power and three counts of money laundering.
PEPs & Sanctions
OFAC Cracks Down on Entities Helping Iran Evade Sanctions
By Editors | 10/03/2023
The sanctions target entities in China, Hong Kong, Singapore, Malaysia and elsewhere for helping Iran evade sanctions and supplying critical components for its drones.
Anti-Bribery & Corruption
1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison
By Editors | 10/03/2023
Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.
PEPs & Sanctions
REPO Task Force Has Immobilised $58b of Russian Assets
By Editors | 10/03/2023
The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.
Anti-Money Laundering
Indian Crypto Businesses Now Subject to AML Laws
By Editors | 10/03/2023
Indian crypto firms are now formally required to perform KYC due diligence, verify client identities, monitor transactions, and report suspicious activities.
Anti-Money Laundering
SFC Fines City International Futures for AML Compliance Failures
By Editors | 10/03/2023
City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.
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