Anti-Money Laundering

Anti-Money Laundering

Philippine Authorities Probe Financial Transactions Linked to Wirecard

By Sanday Chongo Kabange | 11/11/2020

The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

Anti-Money Laundering

AUSTRAC to Ramp Up Industry Guidance on AML Obligations

By Manesh Samtani | 09/11/2020

An unprecedented amount of AML/CTF information will be provided to industry in the next 6-12 months, says AUSTRAC’s David Hawkins.

Anti-Money Laundering

Hong Kong Lawmaker to Propose Bill to Combat Illegal Wildlife Trade

By Editors | 09/11/2020

The bill will seek to incorporate wildlife crimes into Hong Kong’s Organised and Serious Crimes Ordinance, allowing authorities to follow the money and prosecute syndicate leaders.

Market Abuse

MAS Targets Market Abuse, Misconduct, AML Control Breaches

By Editors | 04/11/2020

In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.

Anti-Money Laundering

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

By Editors | 04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.

Anti-Money Laundering

MAS to Discontinue S$1,000 Note to Prevent Money Laundering

By Editors | 03/11/2020

Large denomination notes allow individuals to carry large values of money anonymously, and can facilitate money laundering and other illicit activities, MAS says.

Anti-Money Laundering

Hong Kong to Align Crypto Regulatory Framework with FATF Standards

By Manesh Samtani | 03/11/2020

The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.

Anti-Money Laundering

Singapore Bill to Align Payment Services Act with FATF Standards

By Editors | 03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

Fraud, Scams & Cybercrime

MAS Bans Two Former Bankers for Fraud, Dishonest Conduct

By Editors | 01/11/2020

The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.