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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
PEPs & Sanctions
OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report
By Editors | 14/02/2020
In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.
Anti-Bribery & Corruption
Malaysia Anti-Corruption Commission Files New 1MDB-related Charges
By Editors | 13/02/2020
Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.
KYC & CDD
Technology Building Blocks that Enable Real-Time KYC
By Greg Watson | 11/02/2020
Every financial institution has a digital transformation agenda. But what does that really mean? In this post, we look at the why, and more importantly, the how of pursuing a Digital KYC model.
Anti-Money Laundering
SFC Fines BMI Securities, Suspends RO for AML Breaches
By Editors | 11/02/2020
The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.
Fraud, Scams & Cybercrime
Liar’s Poker – The 1MDB Version
By Peter Guy | 11/02/2020
1MDB sorely tested principles-based regulation and compliance at Goldman Sachs. But, the bank was likely set up as a victim from the very beginning, says Peter Guy.
Anti-Money Laundering
US Treasury Issues 2020 National Strategy for Combatting Illicit Finance
By Editors | 10/02/2020
The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.
PEPs & Sanctions
RUSI-ACAMS Survey Reveals Proliferation Finance Implementation Gaps
By Manesh Samtani | 08/02/2020
A global survey of sanctions professionals reveals a lack of industry awareness of proliferation finance risks, and a lack of focus on this area in compliance programmes.
Anti-Money Laundering
Between a Rock and a Hard Place: FATF Faces an Iranian Crunch
By Tom Keatinge | 07/02/2020
A well-intentioned decision on Iran in 2016 has haunted FATF ever since. That decision is about to become a nightmare, says RUSI’s Tom Keatinge.
Anti-Money Laundering
EBA Consults on Revised ML/TF Risk Factors Guidelines
By Editors | 07/02/2020
The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.
Anti-Money Laundering
ACAMS Pledges Support for Anti-Slavery & Trafficking Initiative
By Editors | 06/02/2020
ACAMS will encourage financial crime professionals globally to adopt a blueprint for mobilising finance against modern slavery and human trafficking.
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