AML / KYC

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    Enforcement

    HK Court Jails Former AXA Agents for Fraud, Money Laundering

    By Sanday Chongo Kabange | 01/04/2024

    The three former AXA insurance agents were sentenced for defrauding AXA of commissions and bonuses and for laundering the proceeds.

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    AML / KYC

    ‘COSMIC’ Information Sharing Platform Launches in Singapore

    By Editors | 01/04/2024

    COSMIC allow banks to share information on suspicious customers or transactions to help detect and prevent financial crime.

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    AML / KYC

    FATF Sheds Light on Global Implementation of Crypto Standards

    By Manesh Samtani | 31/03/2024

    91% of jurisdictions with materially important VASP activity have enacted or are in the process of enacting AML/CTF requirements for VASPs.

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    Crypto / Digital Assets

    FTX Founder Sam Bankman-Fried Sentenced to 25 Years

    By Editors | 31/03/2024

    The judge also ordered the forfeiture of more than $11bn for properties and assets Bankman-Fried bought with customer funds.

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    Crypto / Digital Assets

    Nigeria Files Charges Against Binance & Executives

    By Editors | 31/03/2024

    One of the two Binance executives detained last month escaped custody. Both executives and Binance are accused of money laundering and tax evasion, among other charges.

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    AML / KYC

    Singapore: ACIP Sheds Light on Use of Data Analytics for AML/CFT

    By Manesh Samtani | 30/03/2024

    New paper discusses current and future uses of data analytics for AML/CFT, and how information shared over COSMIC could be leveraged to enhance such solutions.

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    AML / KYC

    MAS Extends Suspension on “Non-Specified Channels” for China Remittances

    By Ranamita Chakraborty | 30/03/2024

    Since the initial suspension in December, MAS has not received reports of remittances to China being frozen.

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    AML / KYC

    Australian Senate Passes Digital Identity Bill

    By Editors | 29/03/2024

    The Bill will allow myGovID to be used by the private sector, and accredited private sector IDs to be used for some government services.

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    AML / KYC

    FATF Re-rates Australia on Six Recommendations

    By Mark Johnston | 29/03/2024

    Australia was upgraded on five recommendations and downgraded on R.15 due to the limited scope of its regulatory regime for VASPs.

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    AML / KYC

    Wolfsberg Group Addresses Role of Internal Audit Function

    By Editors | 29/03/2024

    The Group offers a set of principles as guidance for the IA function to promote effective financial crime risk management within FIs.

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