Financial Crime

KYC & CDD

encompass Highly Commended in Regulation Asia RegTech Award

By Editors | 15/11/2018

encompass has been highly commended in the RegTech category for Artificial Intelligence & Machine Learning in the inaugural Regulation Asia Awards for Excellence 2018.

AI Risk & Governance

Silent Eight Wins AI & Machine Learning RegTech Award

By Editors | 15/11/2018

Silent Eight has won the RegTech Award for Artificial Intelligence & Machine Learning in the inaugural Regulation Asia Awards for Excellence 2018.

PEPs & Sanctions

OFAC Highlights Potential Gap in Singapore’s Sanctions Regime

By Eric A. Sohn | 15/11/2018

Singapore can do more to prevent sanctions violations by domestic firms playing out on the international stage, says Eric A. Sohn at Dow Jones Risk & Compliance.

Market Abuse

Australian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct

By Manesh Samtani | 11/11/2018

The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.

Anti-Money Laundering

FATF Publishes Third Enhanced Follow-up Report on Australia

By Editors | 09/11/2018

Australia has been re-rated on 7 of the 40 FATF Recommendations, reflecting the country’s progress to strengthen AML/CFT measures since its 2015 mutual evaluation.

Anti-Bribery & Corruption

China to Station Anti-Graft Officials at State Banks, Insurers

By Editors | 09/11/2018

China is planning to install anti-graft officials at some of the largest state-owned financial institutions in the country, according to an SCMP report.

Anti-Money Laundering

US Prosecutors Charge Goldman Bankers Over 1MDB Scandal

By Garima Chitkara | 07/11/2018

Malaysian politician Anwar Ibrahim told Bloomberg it would be “inexecusable” if the bank was itself found complicit in money laundering and bribery related to the state development fund.

Fraud, Scams & Cybercrime

Thailand to Combat Tax Evasion with Blockchain, Machine Learning

By Editors | 07/11/2018

Thailand will use blockchain and machine learning to crack down on tax evasion, according to director-general of the tax department, Ekniti Nitithanprapas.

Market Abuse

S. Korea Probes JPMorgan, Citibank in Unresolved Rate Rigging Cases

By Editors | 06/11/2018

JPMorgan and Citibank are still being investigated in an ongoing price manipulation probe by the Fair Trade Commission and FSS which dates back to 2011, reports local media.