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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
China, UAE Agree to Exchange Intelligence on AML Investigations
By Editors | 09/08/2021
The FIUs in China and the UAE will exchange information on investigations concerning money laundering, terrorist financing, and the persons or entities involved.
Anti-Money Laundering
Good Intentions: The FATF Faces Its Own Unintended Consequences
By Tom Keatinge | 08/08/2021
The FATF’s unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.
KYC & CDD
Thai SEC Proposes UBO Registration Rules for Securities Firms
By Sanday Chongo Kabange | 08/08/2021
Securities firms offering trading, exchange or underwriting services will be required to ensure customers register their foreign beneficiaries.
Anti-Money Laundering
US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia
By Editors | 08/08/2021
The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.
Anti-Money Laundering
MAS Finalising New Data-sharing Platform for Banks
By Manesh Samtani | 05/08/2021
The new platform will enable banks to securely share information on customers exhibiting significant risk red flags and warn each other of potential criminal activity.
Supervision & Enforcement
CBIRC Orders Trust Companies to Divest Non-financial Subsidiaries
By Editors | 05/08/2021
Trust companies can retain just one non-financial subsidiary whose business covers investment management or asset management. The remaining subsidiaries must be liquidated.
Anti-Money Laundering
Singapore: Woman Jailed for Helping to Launder Scam Proceeds
By Sanday Chongo Kabange | 05/08/2021
Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.
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.
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