Anti-Money Laundering

Anti-Money Laundering

Singapore Charges Second National for Terrorism Financing

By Editors | 19/09/2019

A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.

Fraud, Scams & Cybercrime

UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate

By Editors | 18/09/2019

The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.

Anti-Money Laundering

RBI Orders Banks to Review Controls on Internal Accounts

By Editors | 16/09/2019

Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.

Cloud & Infrastructure

Financial Institutions Must Adapt and Innovate or Be Left Behind

By Greg Watson | 13/09/2019

Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey.

Anti-Money Laundering

AUSTRAC Order A$250,000 Fine Against Compass Global Holdings

By Editors | 11/09/2019

AUSTRAC says Compass Global Holdings failed to report international funds transfers between 2018 and 2019.

Trading & Investment

KiwiSaver Reform is Key to Boosting NZ Capital Markets: Report

By Editors | 10/09/2019

Sponsored by the FMA and NZX, an industry working group has recommended changes to the KiwiSaver scheme, saying it will become the predominant pool of retirement savings over time.

Anti-Money Laundering

Malaysia Association Joins APAC RegTech Network

By Editors | 10/09/2019

The APAC RegTech Network was established by the regtech committees of the fintech associations of Hong Kong, Japan and Singapore in May.

Trade Based Money Laundering

Singapore: New Platform Targets AML Risks in Trade Finance

By Editors | 09/09/2019

The new electronic platform enables banks to obtain and reference data derived from trade permits issued by Singapore Customs to augment their trade finance compliance checks.

Anti-Money Laundering

SFC Asks Licensed Firms to Bolster AML/CTF Compliance

By Editors | 09/09/2019

Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.