Anti-Money Laundering

Fraud, Scams & Cybercrime

Singapore Police Charge Daughter of Hin Leong Founder

By Editors | 04/08/2021

Lim Huey Ching instructed a Hin Leong employee to ensure deleted items could not be recovered and to permanently dispose of server backups.

Cryptocurrency

Bangladesh Bank Reiterates Ban on Cryptocurrency

By Sanday Chongo Kabange | 04/08/2021

Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.

Anti-Money Laundering

Australian Mining Magnate Charged Over A$38.5m Tax Evasion

By Sanday Chongo Kabange | 03/08/2021

The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.

Anti-Money Laundering

NZ FIU Calls on Industry to Ramp Up AML Efforts

By Manesh Samtani | 03/08/2021

The goal is to push criminals to the margins and into the hands of non-compliant operators, where law enforcement can be deployed more effectively.

Anti-Money Laundering

EBA Issues Guidance on Role of AML Compliance Officers

By Editors | 03/08/2021

Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.

Cryptocurrency

US House Bill Offers Regulatory Framework for Crypto

By Manesh Samtani | 02/08/2021

The bill would give the SEC authority over digital asset securities, the CFTC authority over digital assets, and the Fed authority to issue a digital dollar.

Anti-Money Laundering

Western Australia Man Jailed for Dealing in Criminal Proceeds

By Editors | 02/08/2021

The man was sentenced to five years jail over A$6.1mn in cash discovered as a result of intelligence gained during Operation Ironside.

Cryptocurrency

UPDATED – MAS Grants “In-Principle Approval” to First DPT Provider

By Manesh Samtani | 02/08/2021

MAS has clarified that notices have been issued to several applicants and that “in-principle approval” is not an official term.

Anti-Money Laundering

Fighting Financial Crime with Advanced Technologies

By Ashish Rai | 02/08/2021

AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.