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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
Wolfsberg Group Calls for Greater Use of PPPs for AML/CTF
By Manesh Samtani | 24/06/2022
PPPs provide the most direct and impactful opportunity for FIs to collaborate with public sector stakeholders to identify and address financial crime risks.
Anti-Money Laundering
China Escalates Probe into Henan Bank Withdrawal Freezes
By Darien Choong | 24/06/2022
Initial investigations have revealed that the online transaction systems of the banks which suspended withdrawals were manipulated.
Anti-Money Laundering
NSW to Strengthen State AML Laws to Target Organised Crime
By Editors | 24/06/2022
New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.
KYC & CDD
PBOC Eases Overseas Transactions Rules for Domestic Payment Firms
By Darien Choong | 23/06/2022
Domestic payments institutions can use the cross-border CNY settlement services of banks for e-commerce and ‘new models’ of foreign trade.
Anti-Money Laundering
AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions
By Sanday Chongo Kabange | 22/06/2022
AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.
Tokenisation
Taiwan Central Bank Warns Against Investing in NFT Market
By Darien Choong | 22/06/2022
NFTs are not suitable for retail investors, due to a lack of regulation, liquidity, and clarity over ownership, the central bank says.
Anti-Money Laundering
HK Customs Arrests Woman for Suspected Laundering of HK$350m
By Editors | 21/06/2022
The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.
Anti-Money Laundering
UK Crypto Firms Required to Comply with Travel Rule by Sep 2023
By Manesh Samtani | 20/06/2022
The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.
Anti-Money Laundering
FATF Concludes Final Plenary Under German Presidency
By Editors | 19/06/2022
FATF will soon publish an update on travel rule implementation in the crypto industry, a report on collaborative analytics, and new guidance for the real estate sector.
Anti-Money Laundering
EBA Finalises Guidance for AML/CFT Compliance Officers
By Editors | 19/06/2022
The guidelines comprehensively address, for the first time at the EU level, the whole AML/CFT governance set-up at financial institutions.
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