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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
PEPs & Sanctions
US, German Authorities Target World’s Largest Darknet Market
By Manesh Samtani | 07/04/2022
OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.
Anti-Money Laundering
Singapore Jails Man for Money Laundering, Email Fraud
By Editors | 07/04/2022
The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.
PEPs & Sanctions
India Introduces Bill to Outlaw Proliferation Financing
By Sanday Chongo Kabange | 07/04/2022
The Bill will also give the government powers to freeze, seize or attach funds or other financial assets or economic resources to prevent WMD financing.
Cybersecurity
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
Anti-Money Laundering
The Future of AML Auditing is Increasingly Digital
By Claus Christensen | 03/04/2022
A shift to digital-first AML auditing and more open communications will improve efficiency and effectiveness for regulators and regulated entities alike, writes Claus Christensen.
Fraud, Scams & Cybercrime
US DOJ Charges Two for NFT Fraud, Money Laundering
By Sanday Chongo Kabange | 01/04/2022
The two defendants promised benefits to NFTs buyers and then transferred the $1.1mn in crypto proceeds to various wallets under their control.
Anti-Money Laundering
Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds
By Manesh Samtani | 31/03/2022
Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.
Fraud, Scams & Cybercrime
Taiwan Central Bank Warns of Fraud Via Bitcoin ATMs
By Darien Choong | 31/03/2022
Bitcoin ATMs in Taiwan are being used to scam victims who attempt to transfer cash to specific accounts to purchase cryptoassets.
KYC & CDD
AML / KYC – Using OSINT for Enhanced Customer Due Diligence
By Guy Reeve | 31/03/2022
There are a wide range of ‘regulated entities’, including banking, superannuation, insurance, financial services providers such as lenders, international funds […]
Fraud, Scams & Cybercrime
Singapore Police, Banks Step Up Scam Intervention Efforts
By Editors | 31/03/2022
In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.
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