The woman received more than S$730,000 in criminal proceeds in various bank accounts she set up for her "online lover".
April 14, 2021Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.
April 9, 2021The suspects are being investigated for the offences of cheating, money laundering or providing payment services without a licence.
March 31, 2021Extradited to the US two years after his arrest in Malaysia, the North Korean national will face charges for money laundering, evading sanctions, and defrauding banks.
March 25, 2021A new Finance Ministry order makes incorrect declaration on exports, imports and investment abroad a jailable offence.
March 23, 2021AUSTRAC reportedly said it has not taken action against the banks involved because they did not have reason to be suspicious of the transactions and they aided the investigation.
March 22, 2021NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client's accounts.
March 19, 2021A stablecoin denominated in Thai baht has been developed overseas. Any activity involving the stablecoin is deemed illegal.
March 18, 2021Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.
March 18, 2021ANZ’s link analysis capability allowed the rapid interrogation of combined banking datasets, which led to the arrests of five individuals involved in an international cuckoo smurfing syndicate.
March 17, 2021