AML / KYC

AML / KYC

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.

AML / KYC

New FinCEN Rule Targets Money Laundering in Real Estate

By Editors | 09/02/2024

Certain real estate professionals would be required to report all-cash transfers of residential real estate to legal entities or trusts.

Enforcement

Former CEO of Aon Singapore Charged With Bribery

By Nithya Subramanian | 09/02/2024

Collin Chiew has been accused of receiving SGD 668,000 in bribes and faces five counts of corruption as well as a money laundering charge.

AML / KYC

HKMA Directs Banks to Ensure Their CDD is “Risk-based”

By Manesh Samtani | 09/02/2024

Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.

AML / KYC

ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

By Editors | 07/02/2024

Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

AML / KYC

Singapore: ACIP Issues AML/CFT Guidance to Address CSP Risks

By Nithya Subramanian | 07/02/2024

New ACIP paper offers recommendations for banks that receive customer referrals from corporate service providers.

AML / KYC

Iraq Bars Eight Local Banks from Accessing US Dollars

By Editors | 06/02/2024

The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.

Fintech / Regtech

Singapore Strengthens Measures to Tackle AI Deepfakes

By Nithya Subramanian | 06/02/2024

Various government agencies and industry partners are working together to prevent the malicious use of deepfake technology.

ESG / Sustainability

UK Environment Agency Launches Economic Crime Unit

By Editors | 06/02/2024

The unit will boost the Environment Agency’s efforts to tackle money laundering and carry out financial investigations in the waste sector.