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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Operational Risk
APRA Ends Westpac Probe into Possible Banking Law Breaches
By Editors | 14/03/2021
The investigation did not find evidence of breaches of the Banking Act or the BEAR, according to APRA Deputy Chair John Lonsdale.
Anti-Money Laundering
Bangladesh Officials Confirm Use of Bitcoin to Finance Terrorism
By Editors | 13/03/2021
Two arrested militants have reportedly confessed to receiving funds through Bitcoin from extremist groups since 2014.
Anti-Money Laundering
Addressing Financial Crime Through Data-driven Compliance
By Heather Lee | 13/03/2021
Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.
Fraud, Scams & Cybercrime
HK Court Sentences Two for Mortgage Fraud, Money Laundering
By Ranamita Chakraborty | 13/03/2021
A ICAC investigation found that two former employees of a law firm defrauded licensed money lenders of mortgage loans totalling HK$20mn.
Fraud, Scams & Cybercrime
Singapore Police Arrest Man Over China Official Impersonation Scam
By Editors | 11/03/2021
The man received over S$209,000 from a woman who was told she was under investigation and needed to resolve the case.
Anti-Money Laundering
FSC Korea Proposes New Penalty Standards for VASPs
By Editors | 11/03/2021
FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
Anti-Money Laundering
KoFIU’s New AML System Showing ‘Significant Improvements
By Editors | 08/03/2021
The new STR filing system and the screening and analysis process have been made more efficient, while guaranteeing better system security and stability.
Market Abuse
John McAfee Indicted for Crypto-related Fraud, Money Laundering
By Sanday Chongo Kabange | 08/03/2021
McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.
Market Abuse
HK Police Arrest 12 Members of Ramp-And-Dump Syndicate
By Editors | 08/03/2021
The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.
Anti-Money Laundering
FATF Publishes Guidance on Risk-based AML/CFT Supervision
By Editors | 08/03/2021
The guidance includes practical advice to address common challenges in risk-based supervision, including examples of strategies for supervising DNFBPs and VASPs.
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