Anti-Money Laundering

Anti-Bribery & Corruption

China Renews Anti-corruption Drive with Global Crackdown

By Editors | 02/03/2021

Several government departments including the PBOC will work together to track down corrupt Chinese fugitives and recover ill-gotten gains.

KYC & CDD

Philippine SEC Orders Corporations to Declare Beneficial Owners

By Ranamita Chakraborty | 01/03/2021

Corporations in the Philippines have until 31 March to submit an online form declaring their beneficial owners, principals and nominee arrangements.

Anti-Money Laundering

NZ Real Estate Agent Reprimanded for AML Non-Compliance

By Editors | 01/03/2021

Property Brokers Limited is required to take immediate action to rectify all areas of non-compliance and will continue to be closely monitored by DIA officials.

Supervision & Enforcement

Malaysia Secures Settlement from AmBank to Resolve 1MDB Claims

By Editors | 01/03/2021

AmBank was used by former prime minister Najib Razak to receive billions of ringgit linked to a 1MDB unit between 2014 and 2015.

Anti-Bribery & Corruption

OECD Calls for Global Crackdown on ‘Professional Enablers’

By Manesh Samtani | 27/02/2021

The OECD says each jurisdiction should implement a national strategy to deal with lawyers, notaries, accountants, and FIs that facilitate tax evasion, bribery and corruption.

Anti-Money Laundering

Philippine AMLC Sets Deadline for Newly Covered Entities to Register

By Ranamita Chakraborty | 27/02/2021

Real estate developers and brokers, as well as offshore gaming operators and their service providers, have to register with the AMLC’s electronic reporting system by 16 March.

Anti-Money Laundering

FATF Concludes Second Plenary Under German Presidency

By Manesh Samtani | 26/02/2021

The FATF has finalised guidance on risk-based supervision, terrorist financing, and arms trafficking, as well as draft guidance on proliferation financing, and virtual assets.

Fraud, Scams & Cybercrime

Singapore Police Set to Charge Suspect in Covid-19 Scam

By Editors | 24/02/2021

Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.

PEPs & Sanctions

Financial Crime Challenges and Opportunities for the Year Ahead

By Editors | 24/02/2021

Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.