All posts tagged "terrorism financing"
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158AML / KYCAUSTRAC, Home Affairs Dept Highlight Benefits of Blockchain
The Department of Home Affairs and AUSTRAC say blockchain has the potential to significantly reduce compliance costs and the regulatory burden imposed on reporting entities.
February 18, 2020 -
279AML / KYCUS Law Firms Launch New Class Actions Against Westpac
The class actions seek damages for investors who lost money on Westpac ADRs following the civil penalty orders filed against the bank by AUSTRAC last November.
February 4, 2020 -
344AML / KYCSingapore Convicts a Second National for Terrorism Financing
Imran Kassim became the first Singapore national to be charged for terrorism financing last April, but is the second to be convicted and sentenced.
January 15, 2020 -
341AML / KYCAUSTRAC, UK Gambling Commission Sign Anti-Financial Crime MOU
The signing of the MOU brings the number of jurisdictions AUSTRAC shares regulatory intelligence with to five, on top of 93 MOUs it has with financial intelligence units.
January 13, 2020 -
972AML / KYCMAS Adopts FATF Standards on VASPs in Payment Services Act
MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.
December 28, 2019 -
630FeatureMAS Consults on Application of Payment Services Act to Stablecoins
MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.
December 26, 2019 -
542AML / KYCBangladesh Publishes New National AML/CFT Strategy
The national strategy contains 11 strategies along with 137 action plans, aimed at eliminating gaps identified in the 2016 mutual evaluation report from the APG.
November 23, 2019 -
478AML / KYC
AUSTRAC Commences Legal Action Against Westpac for AML Breaches
According to AUSTRAC's statement of claim, each of the 23 million contraventions attracts a civil penalty between A$17mn and A$21mn.
November 20, 2019 -
764AML / KYCSingapore Re-Rated on Four FATF Recommendations
Singapore is still rated 'partially compliant' on three FATF Recommendations for technical compliance, and will remain in enhanced follow-up.
November 19, 2019 -
594AML / KYC
AUSTRAC: Mutual Banks Face High Money Laundering Risk
Mutual banks are vulnerable to money laundering due to their high exposure to cash transactions, non-face-to-face service delivery, and outsourcing of AML compliance processes.
October 31, 2019
