AML / KYC

AML / KYC

1MDB and Subsidiaries Sue Former PM’s Wife for $346mn

By Nithya Subramanian | 13/05/2024

The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.

AML / KYC

New Zealand DIA Issues Formal AML Warning to Lawyer

By Sanday Chongo Kabange | 13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

AML / KYC

Taiwan Progresses New Anti-Fraud Legislative Package

By Editors | 12/05/2024

The legislative extends fraud prevention obligations to VASPs, telecom companies, and internet advertising platforms, among others.

AML / KYC

Australia Publishes Sanctions Advisory for Crypto Exchanges

By Nithya Subramanian | 10/05/2024

Digital currency exchanges should take “reasonable precautions” and exercise due diligence to prevent sanctions evasion.

AML / KYC

Singapore to Strengthen Laws to Pursue Money Launderers

By Nithya Subramanian | 10/05/2024

Sectoral regulators will have access to STRs filed by entities they regulate, to enable better detection.

AML / KYC

Malaysia Tells US Officials it Only Recognises UN Sanctions

By Editors | 10/05/2024

US officials have warned Malaysia about ship-to-ship transfers and Iranian money moving through its financial system.

AML / KYC

FIs Exposed to Land Conversion-related Financial Crime Risk

By Manesh Samtani | 09/05/2024

WWF-UK and Themis have identified vulnerabilities when it comes to handling the proceeds of land conversion-related financial crimes.

Sanctions

FinCEN Issues Advisory to Help FIs Detect Terrorist Financing

By Manesh Samtani | 08/05/2024

The Advisory describes how Iran finances terrorist organisations and provides red flags to aid in detection, prevention, and reporting.

AML / KYC

US Court Ends Goldman Criminal Case Over 1MDB Work

By Nithya Subramanian | 08/05/2024

Brooklyn federal court dismissed a bribery conspiracy charge against Goldman following the completion of its three-year DPA.