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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
FATF Examines Technology Use in AML/CTF Efforts
By Manesh Samtani | 05/07/2021
While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain “very important”.
Anti-Money Laundering
Japan to Form Cross-agency AML Team Following FATF Review
By Editors | 05/07/2021
A new team being formed under the Cabinet Secretariat may help overcome the current fragmented bureaucracy and enhance cross-agency coordination.
Anti-Money Laundering
Risk Assessments Should Focus on National Priorities: Wolfsberg Group
By Manesh Samtani | 04/07/2021
Most FIs focus their AML/CTF risk assessments on technical compliance rather than government priorities and effectiveness, the Wolfsberg Group says.
Anti-Money Laundering
Indonesia, Brunei to Cooperate on AML/CTF in Payments
By Editors | 03/07/2021
The MoU aims to strengthen policy cooperation on AML/CTF in payments. Indonesia is seeking to become a member of the FATF.
Anti-Money Laundering
FSC Korea Concerned of Embezzlement by Crypto Exchanges
By Editors | 02/07/2021
As the 24 September deadline for VASPs to register their businesses approaches, some businesses may close down, presenting risks to customer deposits.
Anti-Money Laundering
ECA Warns of Weaknesses in EU’s AML/CFT Regime
By Ranamita Chakraborty | 02/07/2021
AML/CFT efforts are hindered by institutional fragmentation and poor co-ordination at EU level, among other weaknesses.
Anti-Money Laundering
Binance Deploys New AML Solution Amid Regulatory Pressure
By Ranamita Chakraborty | 01/07/2021
Binance has deployed a new AML compliance solution in the face of a ban in the UK and warnings from Japanese and Thai regulators.
Anti-Money Laundering
FATF Issues Report on Racially Motivated Terrorism Financing
By Manesh Samtani | 01/07/2021
Most of the funding obtained by extreme right-wing groups comes from legal sources, such as donations, membership fees, and commercial activities.
Anti-Money Laundering
CBA Contractors May Have Cut Corners on Compliance Tasks
By Editors | 29/06/2021
Contract workers reportedly had to cut corners on compliance tasks to meet their KPIs, including by copy and pasting text from templates to fill reports sent to AUSTRAC.
Fraud, Scams & Cybercrime
AUSTRAC Assesses Risk in Non-bank Lending & Financing Sector
By Editors | 29/06/2021
The main threat facing the non-bank lending and financing sector is fraud, particularly loan application fraud, identity fraud and welfare fraud.
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