The FATF proposes countries be required to assess the AML/CTF risks associated with foreign-created legal persons, and take steps to manage and mitigate them.
October 22, 2021The Pandora Papers show that Singapore firm Asiaciti Trust had helped politicians and public officials set up trusts and shell companies in secrecy jurisdictions.
October 6, 2021Some 35 current and former leaders are featured in the Pandora Papers leak, which contains 11.9 million documents from 14 offshore services firms.
October 5, 2021The COSMIC platform will be developed and deployed in phases. The initial participants are DBS, OCBC, UOB, StanChart, Citibank and HSBC.
October 3, 2021Banks are asked to refrain from cutting off funding to developers, continue supporting projects under construction, and approve mortgages for homebuyers.
October 1, 2021Hong Kong's SPAC framework will reportedly be issued for public consultation this month, proposing that only professional investors be allowed to participate.
September 13, 2021Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.
August 26, 2021The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.
August 26, 2021Lawyers, real estate agents, investment advisers, and bank employees have repeatedly facilitated money laundering through US real estate by HNWIs and PEPs.
August 13, 2021The new platform will enable banks to securely share information on customers exhibiting significant risk red flags and warn each other of potential criminal activity.
August 6, 2021