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Money Laundering

Singapore Strengthens Anti-Money Laundering Framework with IMC Report

Money Laundering October 4, 2024

The Inter-Ministerial Committee (IMC) released its report today, detailing findings and recommendations from its review of Singapore's Anti-Money Laundering (AML) framework. The report emphasizes a whole-of-society approach, calling for collaboration between stakeholders and the government as part of the frontline defense against financial crime. Key...

Updated Wire Transfer Regulations Guidance

October 2, 2024

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act) outlines specific obligations for reporting entities to improve transparency in wire transfers. According to the National Risk Assessment, wire transfers pose...

Chinese National and DPRK Facilitator Extradited to the United States; Faces Charges of Conspiracy, Bank Fraud, and Violating North Korea Sanctions

September 30, 2024

On Sept. 27, the Commonwealth of Australia extradited Jin Guanghua, 53, to the United States. Jin, a Chinese national, and his co-conspirators North Korean banker, Sim Hyon-Sop, 50, and Chinese nationals Qin Guoming,...

Florida Financial Advisor Charged with Promoting Illegal Tax Shelter, Stealing Clients’ Funds and Money Laundering

September 27, 2024

A federal grand jury in Gulfport, Mississippi, returned an indictment, unsealed yesterday, charging a Florida financial advisor with a years-long scheme to promote and operate an illegal tax shelter, stealing some of his clients’ funds...

Money Laundering

Singapore Strengthens Anti-Money Laundering Framework with IMC Report

Money Laundering October 4, 2024

Updated Wire Transfer Regulations Guidance

October 2, 2024

Chinese National and DPRK Facilitator Extradited to the United States; Faces Charges of Conspiracy, Bank Fraud, and Violating North Korea Sanctions

September 30, 2024

USA
Events: 10,500 events
Fines: USD290 Bn
Imprisonment: 1,245,000 months
Entities (including individuals and organizations): 17K

UK
Events: 1,750 events
Fines: USD18 Bn
Imprisonment: 150,000 months
Entities: (including individuals and organizations): 3K

India
Events: 510 events
Fines: USD45 Mn
Imprisonment: 3,800 months
Entities: (including individuals and organizations): 400

South Africa
Events: 120 events
Fines: USD32 Mn
Imprisonment: 20,090 months
Entities: (including individuals and organizations): 190

Screening

IDAHOT 2024: freedom and equal rights in Europe | News item

KYC May 8, 2024

Together with the Council of Europe, the Netherlands is hosting the European IDAHOT+ Forum in The Hague from 14 to 16 May. The forum is an important conference on the position and human...

AMLYZE and Plumery Join Forces to Redefine FinTech: Fusion of Cutting-Edge Anti-Financial Crime Tech with Next-Gen Digital Banking

PEPs November 24, 2023

AMLYZE, a distinguished RegTech specializing in combating financial crimes, and Plumery, a leading provider of digital banking solutions, have announced a strategic partnership. This collaboration aims to reshape the FinTech landscape by integrating...

ESG

FSA Weekly Review No.595 July 19, 2024

ESG July 19, 2024

July 11, 2024 Publication of a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice in response to the enactment (in FY 2023) of the "Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares," etc. to respond to changes in the environment involving advances in information technology <Summary> The FSA published a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice (hereinafter collectively referred to as "Ministerial Orders" or "the proposal") in response to the "Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares," etc. to respond to changes in the environment involving advances in information technology, which...

Crypto

MAS Proposes Regulatory Guidelines for Digital Token Service Providers

October 4, 2024

The Monetary Authority of Singapore (MAS) has released a Consultation Paper on the proposed regulatory guidelines for DTSPs licensed under the Financial Services and Markets Act 2022. Feedback is open from October 4 to...

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Fraud, Bribery & Corruption

Former Peruvian President Alejandro Toledo Sentenced to 20+ Years in Odebrecht Bribery Scandal

Fraud, Bribery & Corruption October 22, 2024

Former Peruvian President Alejandro Toledo has been sentenced to over 20 years in prison,...

Ex-Mexican Security Chief Sentenced for Bribery and Aiding Sinaloa Cartel’s Drug Trafficking

October 16, 2024

Genaro Garcia Luna, Mexico's former Secretary of Public Security (2006-2012), was sentenced today to 460 months in prison and fined $2 million by U.S. District Judge Brian M. Cogan. Garcia Luna accepted millions...