ADVERTISEMENT
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
NZ DIA Updates CCD Guidance to Address Nominee Structures
By Sanday Chongo Kabange | 01/11/2022
Reporting entities “must” take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.
Fraud, Scams & Cybercrime
Australia: Budget Measures Provide Boost to Scam Prevention
By Editors | 30/10/2022
The budget also includes funding for APRA and ASIC to increase their staff numbers, an independent review of the carbon market, and the introduction of climate reporting standards.
Anti-Money Laundering
Wolfsberg Group Updates Guidance on Correspondent Banking
By Editors | 28/10/2022
The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.
Trade Based Money Laundering
AUSTRAC Issues New Guidance on Preventing TBML
By Sanday Chongo Kabange | 28/10/2022
The guidance describes the most common TBML methodologies and provides indicators and behaviours to help financial service providers detect and report suspicious activity.
Anti-Money Laundering
Korea to Increase Scrutiny of Money Laundering Risks via Crypto
By Editors | 27/10/2022
The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.
Anti-Money Laundering
Hong Kong Customs Arrests Two for Laundering HK$3.5bn
By Editors | 27/10/2022
The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
Market Abuse
Credit Suisse Clears Litigation Docket Ahead of Overhaul
By Editors | 25/10/2022
Credit Suisse has been cleared of FX rigging charges and settled separate cases with French and US prosecutors.
Anti-Money Laundering
NZ DIA Lists Common Areas of AML Non-Compliance
By Editors | 24/10/2022
Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
Anti-Money Laundering
Singapore Jails Former Bank Officer Over Shell Company Setups
By Editors | 24/10/2022
The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.
Anti-Money Laundering
FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan
By Manesh Samtani | 23/10/2022
Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.