Anti-Money Laundering

Anti-Money Laundering

Artificial Intelligence – the Ultimate Weapon to Fight Financial Crime

By Karl Seagrave | 03/04/2019

Getting buy-in from senior management is one of the biggest hurdles to adopting AI in the fight against financial crime, says Fenergo’s Karl Seagrave.

Anti-Money Laundering

FMA Monitoring Report Reveals Multiple AML/CFT Deficiencies

By Editors | 02/04/2019

New Zealand’s Financial Markets Authority has released a report highlighting failures in reporting entities’ AML/CFT programmes, risk assessments and customer due diligence.

Anti-Money Laundering

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

Anti-Money Laundering

Malaysia Mulls Cash Transaction Limit as AML Measure

By Editors | 01/04/2019

Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

Supervision & Enforcement

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

By Manesh Samtani | 20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

Credit Risk

RBI Asks Banks to Boost Monitoring of End Use of Loan Funds

By Editors | 20/03/2019

Following a string of penalties against banks last month, the RBI has asked banks to improve their monitoring of the origin and end use of loan funds.

Anti-Money Laundering

Securities Commission Malaysia Issues Show-cause Notice to Goldman

By Editors | 15/03/2019

Malaysia’s securities regulator has reportedly issued a show-cause notice to Goldman Sachs, assumed to be in connection with the multi-billion dollar 1MDB scandal.

Cloud & Infrastructure

APRA, AUSTRAC to Engage Regtechs on Solution Development

By Editors | 08/03/2019

APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.

Anti-Money Laundering

FATF Gets Tough on Virtual Assets and Their Service Providers

By ComplyAdvantage | 27/02/2019

If the FATF Interpretive Note is adopted, virtual assets and their service providers could fall under the same level of regulatory scrutiny as seen in traditional banking, says ComplyAdvantage.