Anti-Money Laundering

Anti-Money Laundering

EBA Calls for Harmonised AML/CFT Framework Across EU

By Editors | 10/09/2020

Responding to a European Commission call for advice, the EBA says it recommends the establishment of a single rulebook to harmonise the AML/CFT framework across the EU.

Market Abuse

HK Police Arrest 15 on Stock Manipulation Suspicions

By Sanday Chongo Kabange | 10/09/2020

Police believe the 15 individuals manipulated the stock price of Next Digital after its owner Jimmy Lai was arrested last month.

Supervision & Enforcement

India’s Enforcement Directorate Fines StanChart $13.6mn

By Editors | 08/09/2020

Standard Chartered escrow accounts were used in 2007 to transfer shares in Tamilnad Mercantile Bank to overseas investors without the RBI’s permission.

Anti-Money Laundering

US Recovers $60m in 1MDB Funds from Najib Razak’s Stepson

By Editors | 06/09/2020

The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.

Anti-Money Laundering

SWIFT Details How Cyber Criminals Encash Stolen Funds

By Editors | 03/09/2020

In a new report, SWIFT and BAE Systems reveal how cyber attackers launder money and ‘cash out’ following large-scale heists.

Fraud, Scams & Cybercrime

Seoul Police Raid Crypto Exchange Bithumb Over Fraud Allegations

By Sanday Chongo Kabange | 03/09/2020

Police reportedly raided South Korea’s largest crypto exchange and confiscated data in connection with a fraud investigation involving the pre-sale of BXA tokens to investors.

Anti-Money Laundering

BNM Issues Guidance Documents on AML/CFT Obligations

By Editors | 02/09/2020

Guidance is provided for financial institutions, DNFBPs and NBFIs on AML/CFT and targeted financial sanctions, customer due diligence and beneficial ownership.

Fraud, Scams & Cybercrime

US DOJ Files Civil Forfeiture Complaint to Recover Stolen Crypto

By Manesh Samtani | 31/08/2020

The two crypto exchange hacks detailed in the complaint are linked to the same group of Chinese actors who laundered over $250mn in stolen cryptocurrency for North Korea in 2018.

Trade Based Money Laundering

Trade-based Money Laundering: Avoiding Murky Waters

By Jamil Ahmed | 31/08/2020

HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.