All posts tagged "terrorism financing"
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260AML / KYCAUSTRAC 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 -
493AML / 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 -
434AML / KYCAUSTRAC: 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 -
430AML / KYCThree Indonesians Charged with Terrorism Financing in Singapore
The three individuals are said to have provided a total of about S$1,500 to individuals in Indonesia for the purpose of facilitating terrorist acts after being ‘radicalised’ last year.
October 24, 2019 -
764AML / KYC
Singapore Charges Second National for Terrorism Financing
A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.
September 19, 2019 -
400AML / KYC
AUSTRAC Order A$250,000 Fine Against Compass Global Holdings
AUSTRAC says Compass Global Holdings failed to report international funds transfers between 2018 and 2019.
September 11, 2019 -
746AML / KYCAPG: Good Progress from Taiwan; Pakistan Falls to ‘Enhanced Follow-up’
The APG has adopted mutual evaluation reports for the Philippines, China, Hong Kong, Pakistan, Taiwan and the Solomon Islands – due to be published in October.
August 26, 2019 -
479UncategorisedMalaysia to Introduce e-KYC for Money Services Businesses
BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.
August 14, 2019 -
966AML / KYCWhistleblowers Allege SCB Cleared $57bn in Iran Transactions
Whistleblowers reportedly claim that Standard Chartered Bank cleared more transactions in violation of Iran sanctions than the US government had used as its basis for fines issued in April.
July 22, 2019 -
990Fintech / RegtechMalaysia to Finalise Regulatory Framework for ICOs by Year-End
A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.
July 6, 2019
