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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
HKMA Offers Guidance in Response to FATF Report
By Manesh Samtani | 06/09/2019
Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.
Anti-Money Laundering
FATF Releases Mutual Evaluation Report for Hong Kong
By Manesh Samtani | 04/09/2019
Hong Kong needs to enhance prosecution of money laundering involving crimes committed abroad and strengthen supervision of certain non-financial businesses.
Anti-Money Laundering
BNM to Enforce AML Compliance at Law Firms in 2020
By Editors | 30/08/2019
BNM assistant governor Encik Adnan Zaylani Mohamad Zahid warns that enforcement action will be taken against legal professionals for AML non-compliance starting in 2020.
Supervision & Enforcement
Philippine Police Arrest Former Govt Official for Banking Law Violations
By Editors | 28/08/2019
Former foreign affairs secretary Perfecto Yasay Jr is reportedly accused of conspiring to obtain a $6.7mn loan for a company without reporting the loan to the central bank.
Anti-Money Laundering
AUSTRAC Campaign Targets Illegal Money Transfer Dealers
By Editors | 28/08/2019
The campaign seeks to raise community awareness of the money laundering threat that unregistered money transfer dealers pose.
Anti-Money Laundering
APG: Good Progress from Taiwan; Pakistan Falls to ‘Enhanced Follow-up’
By Editors | 26/08/2019
The APG has adopted mutual evaluation reports for the Philippines, China, Hong Kong, Pakistan, Taiwan and the Solomon Islands – due to be published in October.
Anti-Money Laundering
Investors Accuse BSEC Chairman of Embezzlement, Money Laundering
By Editors | 24/08/2019
The chairman of Bangladesh’s securities regulator is alleged to have approved IPOs for companies that falsified their financial statements to show higher profitability.
Anti-Money Laundering
Australia Introduces Bill to Criminalise Cash Payments Over A$10,000
By Editors | 22/08/2019
Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.
Anti-Money Laundering
NTU Singapore to Develop New Tools to Fight Money Laundering
By Editors | 22/08/2019
Supported by the MAS and Singapore’s major banks, the project seeks to help wealth managers address money laundering risks with new AI and machine learning capabilities.
Anti-Money Laundering
Hong Kong Banks Under Scrutiny for Chinese Lending – Report
By Manesh Samtani | 16/08/2019
The HKMA has reportedly been investigating several Hong Kong lenders for financing large scale overseas asset purchases by Chinese conglomerates.
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