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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Cryptocurrency
Crypto Should Re-examine Relationship with Regulators, and Vice Versa
By Andy Meehan | 25/09/2021
Andy Meehan says greater collaboration is needed between industry players and regulators to advance ‘sensible’ regulation and ensure the public is properly educated.
Anti-Bribery & Corruption
China Targets Corruption with New Supervision Law
By Sanday Chongo Kabange | 25/09/2021
Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.
Anti-Money Laundering
FATF Report Highlights Opportunities for Japan’s FIs
By Matthew Field | 24/09/2021
Matthew Field discusses how Japan’s FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.
Anti-Money Laundering
Basel AML Index Calls Out Ineffectiveness Across Jurisdictions
By Manesh Samtani | 21/09/2021
Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.
Supervision & Enforcement
Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims
By Editors | 18/09/2021
The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB’s 2010-2012 financial statements.
Anti-Money Laundering
SFC Finalises AML Guidelines for Securities Sector
By Manesh Samtani | 15/09/2021
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
Fraud, Scams & Cybercrime
Hong Kong ICAC Files Criminal Charges Against Former AXA Agents
By Editors | 15/09/2021
Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.
Anti-Money Laundering
German Finance, Justice Ministries Raided in Probe of FIU
By Sanday Chongo Kabange | 15/09/2021
The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.
Anti-Money Laundering
Singapore Court Jails Businessman for Financing ISIS Fighter
By Ranamita Chakraborty | 13/09/2021
The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.
Anti-Money Laundering
NZ Court Fines CLSA Premium NZ for AML/CFT Breaches
By Sanday Chongo Kabange | 13/09/2021
The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.
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