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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
Billionaire’s Arrest Signals China’s Intent to End Cross-Border Gambling
By Darien Choong | 05/12/2021
Suncity Group’s Alvin Chau allegedly operated a gambling syndicate that used Macau as a base for an illegal “live web betting platform” in the Philippines, targetting customers in mainland China.
Anti-Money Laundering
Environmental Crime, A Global Security Issue
By Manesh Samtani | 01/12/2021
Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.
Fraud, Scams & Cybercrime
Police Arrest 1,000 in Interpol Operation Targeting Online Fraud
By Ranamita Chakraborty | 01/12/2021
The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.
Anti-Money Laundering
AUSTRAC to Update Guidance on Reporting Cash Transactions
By Editors | 30/11/2021
A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.
Anti-Money Laundering
HK ICAC Charges Four for Concealing Backdoor Listing
By Editors | 28/11/2021
A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.
Cryptocurrency
SEC Thailand Proposes Regulations to Ban Privacy Coins
By Editors | 28/11/2021
The proposed ban is aimed at preventing the misuse of digital assets as a tool to commit crime, the SEC said.
Supervision & Enforcement
CBIRC Orders Banks to Strengthen Risk Controls
By Darien Choong | 25/11/2021
Insufficient assessment of potential business risks and a lack of core management systems and control measures have surfaced, the CBIRC said.
Anti-Money Laundering
The Rising Standards of AML/CFT Compliance in Hong Kong
By Susanne Harris | 22/11/2021
Mayer Brown’s Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021.
Anti-Money Laundering
AUSTRAC Issues Guidance on Misuse of Payment Text Fields
By Editors | 22/11/2021
Payment text fields in financial transactions are increasingly being used as a method of criminal communication or abuse, AUSTRAC says.
Anti-Bribery & Corruption
US Extradites Ex-BOC Banker to China Over Corruption Charges
By Darien Choong | 22/11/2021
The former BOC managers stole the bank’s money and laundered it through Canada and the US, in a case that dates back 20 years.
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