All posts tagged "Money Laundering"
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399AML / KYCMAS Details Enforcement Outcomes, Priorities in Inaugural Report
The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.
March 21, 2019 -
694AML / KYCFATF Commends China, Sri Lanka; Watchlists Cambodia
The Financial Action Task Force has marked the end of its fourth round of mutual evaluations with an announcement of its latest plenary session last week.
February 26, 2019 -
497AML / KYCAUSTRAC Trials Reporting Automation through Smart Contracts
The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.
February 26, 2019 -
1.7KAML / KYCAML Beyond Banking: The Increasing Scope of Global AML Regulation
Increased transparency in the banking sector has made other avenues for money laundering gain greater prominence, writes Claus Christensen at Know Your Customer Ltd.
February 20, 2019 -
765AML / KYC
Complying with AML/CTF Obligations in Australia
Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.
February 6, 2019 -
537EnforcementIndia Launches Money Laundering Probe Against Former ICICI Bank Chief
India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.
February 4, 2019 -
654AML / KYC
Singapore 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 -
465AML / 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 -
815AML / 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 -
743AML / 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
