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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
Financial Crime Country Lists in a Fragmenting World Order
By Tom Keatinge | 30/10/2020
Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI’s Tom Keatinge.
Anti-Money Laundering
PBOC Issues Draft AML Rules for Beijing Real Estate Sector
By Editors | 27/10/2020
The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.
Anti-Money Laundering
China Issues AML/CTF Guidelines for Microfinance Institutions
By Editors | 27/10/2020
The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.
Anti-Money Laundering
US Agencies Target Cross-border Transfers in Proposed Rule Change
By Editors | 26/10/2020
Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.
Anti-Money Laundering
FATF to Drive Digital Transformation of AML/CFT Systems
By Manesh Samtani | 26/10/2020
Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.
Fraud, Scams & Cybercrime
Australian Police Arrest NAB Employee on Fraud Charges
By Editors | 25/10/2020
The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.
PEPs & Sanctions
FATF Adopts Measures to Mitigate Proliferation Financing Risk
By Editors | 25/10/2020
The changes are aimed at ensuring FIs and DNFBPs do not unwittingly support or become part of proliferation financing networks or schemes.
Anti-Money Laundering
MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’
By Editors | 23/10/2020
The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.
Anti-Money Laundering
AUSTRAC Wants Lawyers, Accountants Under its AML Remit
By Editors | 23/10/2020
AUSTRAC chief Nicole Rose expressed concerns that professional facilitators are being used to evade money laundering detection.
Fraud, Scams & Cybercrime
Singapore Lawyer Faces Life in Prison for Cheating, Breach of Trust
By Editors | 22/10/2020
The JLC Advisors managing partner absconded with S$33.8mn in client money last year but was arrested in Malaysia. 19 new charges relate to his misappropriation of S$17.5 from another client.
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