All posts tagged "Money Laundering"
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445AML / KYCSingapore Parliament Passes Payment Services Act
The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.
January 15, 2019 -
344AML / KYCPhilippine Court Rules in First Conviction in Bangladesh Bank Heist Case
Former RCBC bank manager Maia Santos-Deguito faces 49 years imprisonment and fines of up to $110mn for her role in the February 2016 theft of $81mn from Bangladesh’s central bank.
January 11, 2019 -
580AML / KYCNew Rules for Payments, E-Commerce Take Effect in China
Non-bank payment institutions will be required to report to the central bank any consumer transactions exceeding 50,000 yuan and cross-border transfers over 200,000 yuan.
January 4, 2019 -
589AML / KYCTaiwan to Ease AML Requirements for Low Risk Clients
The majority of banks' clients pose low money laundering risks, and should not be subject to the same level of scrutiny as high risk clients, said FSC chairman Wellington Koo.
January 3, 2019 -
333AML / KYC
Taiwan FSC to Amend Rules on Beneficiary Disclosure
Insufficient disclosures of corporate clients' beneficiaries by financial institutions was cited as one of Taiwan's shortcomings in the APG's latest report.
December 20, 2018 -
275AML / KYCMAS Extends Prohibition Against Goldman’s Leissner to Lifetime Ban
The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.
December 20, 2018 -
578AML / KYC
Malaysia Files Criminal Charges Against Goldman Sachs over 1MDB
Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.
December 17, 2018 -
392AML / KYCAUSTRAC Publishes AML/CTF Guidance for Superannuation Sector
While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC's risk assessment has rated the sector as medium risk.
December 17, 2018 -
436AML / KYCG20 Nations Commit to Regulating Cryptocurrencies
G20 nations have signed a joint declaration calling for regulation of crypto assets to combat money laundering and terrorist financing.
December 6, 2018 -
426AML / KYCSouth Korean Banks Vulnerable to Money Laundering Risks: FSC
Banks are most exposed to money laundering risks due to the innate characteristics of their products and services, according to an FSC review of the domestic financial industry.
November 29, 2018
