Financial Crime

Anti-Money Laundering

UK, UAE Launch New Toolkit Targeting Illegal Wildlife Trade

By Editors | 04/03/2022

Financial institutions worldwide are urged to adopt the toolkit; share it with colleagues, peers and industry partners; and take action to stamp out IWT.

PEPs & Sanctions

DOJ Launches New Task Force Targeting Russian Oligarchs

By Editors | 04/03/2022

Task Force KleptoCapture will use “the most cutting-edge investigative techniques” to identify sanctions evasion and related criminal misconduct by Russian oligarchs.

PEPs & Sanctions

Credit Suisse Attempts to Conceal Records on Russian Clients – Report

By Editors | 04/03/2022

Credit Suisse reportedly asked investors to destroy documents relating to a loan securitisation backed by “jets, yachts, real estate and/or financial assets”.

Fraud, Scams & Cybercrime

Korean Broker and Bank Penalised Over Optimus Mis-selling

By Editors | 04/03/2022

NH Investment & Securities cannot sell new private equity funds for three months. Hana Bank cannot be appointed as a fund trustee for three months.

Anti-Bribery & Corruption

1MDB: Ex-BNM Governor’s Husband Embroiled in Police Probe

By Sanday Chongo Kabange | 04/03/2022

The police, rather than the anti-corruption commission, are investigating Datuk Tawfiq Ayman and his alleged involvement in 1MDB.

Anti-Money Laundering

GCFFC Offers Recommendations on Improving FATF Mutual Evaluations

By Manesh Samtani | 03/03/2022

Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.

Conduct, Culture & Accountability

ASIC Consults on When to Convene FSCP Sitting Panels

By Ranamita Chakraborty | 03/03/2022

ASIC proposes that it will generally convene an FSCP sitting panel when misconduct is widespread or part of a growing trend, or where doing so can have deterrence benefits.

Anti-Money Laundering

CBSL Calls on Public to Report Illegal FX Dealers

By Duruthu E Chandrasekera | 03/03/2022

The public is asked to inform the Foreign Exchange Department of CBSL of any person, institution or any other entity that is engaged in unauthorized FX dealings.

Fraud, Scams & Cybercrime

Thai Police, Banks Launch New Centre for Reporting Cybercrime

By Editors | 03/03/2022

The new platform is expected to reduce waiting times at police stations and help banks to cancel fraudulent financial transactions more quickly.