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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
Germany to Form New Federal Authority for Financial Crime
By Editors | 26/08/2022
Germany currently has more than 300 supervisors, an issue highlighted by the FATF in its latest mutual evaluation report on the country.
Supervision & Enforcement
CBIRC Undergoing Internal Restructuring Process – Report
By Editors | 25/08/2022
The CBIRC will form a new Internal Audit Department and merge its Risk Disposal Bureau with its Anti-Crime Bureau.
Anti-Money Laundering
MAS Issues AML Guidance for External Asset Managers
By Manesh Samtani | 25/08/2022
The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.
Anti-Money Laundering
Wolfsberg Group Issues Guidance on Correspondent Banking RFIs
By Editors | 24/08/2022
When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.
Fraud, Scams & Cybercrime
SG Police Make Series of Arrests Targeting Scam Syndicates
By Editors | 24/08/2022
4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.
Anti-Money Laundering
Malaysia: Federal Court Upholds Najib Razak Conviction
By Editors | 24/08/2022
Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.
Anti-Money Laundering
Malaysia to Enhance AML Supervision of Company Secretaries, Trust Companies
By Editors | 23/08/2022
The Companies Commission of Malaysia will “take on greater responsibility” in supervising company secretaries and trust companies “in the near future”.
PEPs & Sanctions
US Concerned India is Routing Russian Oil to New York
By Editors | 22/08/2022
An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.
Anti-Bribery & Corruption
Shanghai Court Jails Tycoon Xiao Jianhua, Fines Conglomerate
By Editors | 22/08/2022
Xiao Jianhua was handed a 13-year jail term and CNY 6.5 million fine. His company, Tomorrow Holding, was fined CNY 55 billion.
Anti-Money Laundering
Wirecard-related Charges Filed in Singapore, Philippines
By Editors | 18/08/2022
The charges in Singapore are for criminal breach of trust and money laundering. A bank official in the Philippines was indicted.
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