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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
PBOC Beijing Penalises Didi Pay for AML Violations
By Editors | 19/07/2022
The violations included failure to confirm the real identities of users, conduct checks on unusual transactions, and report major risks in a timely manner.
Anti-Money Laundering
New Zealand Court Dismisses Appeal of First AML Act Convictions
By Editors | 19/07/2022
Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
Anti-Money Laundering
BSP Issues Guidance on Conducting AML/CFT Risk Assessments
By Editors | 18/07/2022
The findings from institutional risk assessments should be used to enhance AML/CFT/CPF/sanctions compliance programmes and made available to the BSP during examinations.
PEPs & Sanctions
How North Korean Cryptocurrency Abuse Is Expanding
By Sasha Erskine | 18/07/2022
Countries must secure new and emerging gateways that are used to circumvent sanctions, as North Korea’s exploitation of cryptocurrency continues.
Anti-Money Laundering
NSW Authorities Inquire Into Money Laundering via Gaming Machines
By Editors | 17/07/2022
NSW Crime Commission issued new papers as part of an inquiry into money laundering via electronic gaming machines at pubs, clubs and hotels.
Fraud, Scams & Cybercrime
China Arrests Gang Responsible for Henan Bank Fraud
By Darien Choong | 14/07/2022
The four Henan rural banks which froze withdrawals will start repaying some customers. The CBIRC pledged to formulate a disposal plan soon.
Anti-Money Laundering
HKMA Advances Work on AML SupTech, Bank-to-Bank Data Sharing
By Darien Choong | 13/07/2022
HKMA executive director Carmen Chu discussed initiatives to enable bank-to-bank information sharing and use granular bank data to detect ML risk.
Anti-Money Laundering
GCFFC Offers Recommendations on Improving AML Effectiveness
By Manesh Samtani | 12/07/2022
PPPs could benefit from the FATF providing a clearer endorsement of their benefits within the global framework, the paper says.
Anti-Money Laundering
Hong Kong Publishes ML/TF Risk Assessment Report
By Manesh Samtani | 12/07/2022
The most prominent ML threats to banks come from fraud, corruption and tax crimes. The main ML threats to the crypto sector relate to fraud and theft.
Cryptocurrency
US Treasury Outlines Approach to International Engagement on Crypto
By Editors | 11/07/2022
The US will promote the adoption and implementation of international standards while ensuring a “coordinated message” and limiting duplication of work.
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