Anti-Money Laundering

Anti-Money Laundering

German Authorities Raid Deutsche Bank in Money Laundering Probe

By Editors | 02/05/2022

The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.

Anti-Money Laundering

MAS Issues Guidance on Uplifting Name Screening Systems

By Manesh Samtani | 30/04/2022

MAS observed an overreliance on system vendors to set the screening parameters. Most FIs did not enquire about or assess vendors’ information sources.

Anti-Money Laundering

US OCC Orders Digital Assets Bank to Address AML Failings

By Sanday Chongo Kabange | 30/04/2022

Deficiencies were found at Anchorage Digital Bank, the US’ first federally chartered bank authorised to provide institutional custody services for crypto.

Anti-Money Laundering

Improving Outcomes with Entity-Centric AML

By NICE Actimize | 29/04/2022

Enrich the full AML value chain For decades, financial services organisations (FSOs) have struggled to understand their customers’ financial risk […]

Anti-Money Laundering

AUSTRAC Enhances MOU with Victoria Casino Regulator

By Editors | 27/04/2022

The Victorian Gambling and Casino Control Commission will be provided designated access to AUSTRAC’s financial intelligence database.

Anti-Money Laundering

FIs Must Continue to Innovate Approach to AML: HKMA

By Manesh Samtani | 27/04/2022

Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.

Fraud, Scams & Cybercrime

PwC Concludes Review of OCBC Anti Fraud Systems

By Ranamita Chakraborty | 26/04/2022

A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.

KYC & CDD

FCA Directs Challenger Banks to Bolster FCC Controls

By Editors | 26/04/2022

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

Anti-Money Laundering

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.