When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.
October 7, 2022ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
October 7, 2022Dubbed 'Scameter', the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.
October 7, 2022New Zealand, Australia, Taiwan and Singapore received the best ML/TF risk scores among APAC jurisdictions in the latest Basel AML Index.
October 5, 2022A CFR policy paper provides four recommendations to address de‑banking of fintechs, crypto exchanges and remittance firms.
October 4, 2022Large firms face penalties with no upper limit if they fail to reasonably monitor for and report suspicious transactions.
October 3, 2022The HKMA plans to run a network analytics-themed AMLab again later this year to give more banks an opportunity to take part.
October 3, 2022Revolut was allowed to remain on a temporary register after a March deadline for approvals until its application was fully processed.
October 1, 2022The rule is effective from 1 January 2024. Existing companies will have one year to report information about their beneficial owners to FinCEN.
September 30, 2022The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.
September 29, 2022