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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
FATF Outlines Priorities, Objectives for Singapore Presidency
By Editors | 04/07/2022
The Singapore Presidency will focus on areas such as asset recovery, cybercrime, virtual assets, beneficial ownership, data analytics and corruption.
Anti-Money Laundering
Limited Progress Made on Travel Rule Implementation: FATF
By Editors | 01/07/2022
Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.
Anti-Money Laundering
FATF Seeks Views on Improvements to Recommendation 25
By Editors | 30/06/2022
The review is intended to improve Recommendation 25 and its Interpretive Note to better meet its stated objective to prevent the misuse of legal arrangements.
Anti-Money Laundering
EU Lawmakers Agree on AML Framework for Crypto
By Manesh Samtani | 30/06/2022
Crypto asset service providers will be required to implement customer protection measures and robust AML/CFT safeguards including the travel rule.
KYC & CDD
Canadian Banks Collaborate on KYC Utility Project
By Editors | 30/06/2022
The five banks will collaborate with CanDeal Group to create a common data and regulatory experience for the industry.
PEPs & Sanctions
G7 Nations Announce Ban on Russian Gold Imports
By Manesh Samtani | 30/06/2022
The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.
Anti-Money Laundering
Woori Bank, Crypto Exchange Under Probe for Money Laundering
By Editors | 29/06/2022
This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
Anti-Money Laundering
Swiss Criminal Court Convicts Credit Suisse for Money Laundering
By Editors | 29/06/2022
The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.
Anti-Money Laundering
AUSTRAC Updates Guidance on Reporting Cash Transactions
By Editors | 28/06/2022
When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.
Cryptocurrency
Hong Kong VASP Regime to Take Effect on 1 March 2023
By Natalie Curtis | 26/06/2022
The government acknowledges that the VASP regime will be more rigorous and comprehensive than those in Singapore, UK and Japan.
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