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Former Singapore Minister Jailed for Obstructing Justice, Accepting $300K in Gifts

A Singapore court sentenced former minister S....

Updated Wire Transfer Regulations Guidance

The Anti-Money Laundering and Countering Financing of...

Tribes in Nevada Honor Victims of Cavalry Massacre

On September 21, I attended the fourth...

Money Laundering

Updated Wire Transfer Regulations Guidance

Fraud, Bribery & Corruption
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 a high risk for money laundering in New Zealand, aligning with...

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

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

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...

Owners of Florida Labor-Staffing Companies Make Initial Appearance on Tax and Immigration Fraud and Money Laundering Charges

Two Ukrainian nationals made their initial appearance yesterday on a superseding indictment returned by a federal grand jury in Miami charging them with crimes related to labor-staffing companies they operated in Florida. The two men...

Money Laundering

Updated Wire Transfer Regulations Guidance

Fraud, Bribery & Corruption
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 a high risk for money laundering in New Zealand, aligning with...

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

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

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...

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
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
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 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

FBI Releases 2023 Cryptocurrency Fraud Report: Over $5.6 Billion in Losses

The FBI released its 2023 Cryptocurrency Fraud Report on September 9. In 2023, the FBI’s Internet Crime Complaint Center received over 69,000 complaints related to cybercrime and financial fraud involving cryptocurrency, with reported...

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abductionAI and Regulatory ReportingAI applicationsAI ethicsAI for Financial Crime InvestigationsAI in AMLai in aml (anti-money laundering)AI in Anti-Money LaunderingAI in customer service

Fraud, Bribery & Corruption

Former Singapore Minister Jailed for Obstructing Justice, Accepting $300K in Gifts

Fraud, Bribery & Corruption
A Singapore court sentenced former minister S. Iswaran to 12 months in prison on...

Updated Wire Transfer Regulations Guidance

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...

Regulations

Big 4 Corner

Sanctions

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

On Sept. 27, the Commonwealth of Australia extradited Jin Guanghua, 53, to the United States. Jin, a Chinese national,...

Human Rights

Tunisia: Release Former Truth Commission President

(Beirut) – A Tunisian judge has detained a prominent activist...

Guatemala: High-Stakes Judicial Appointments | Human Rights Watch

(Washington, DC) – Guatemala’s Congress should ensure a transparent, merit-based...

Gaza: Israeli Attacks Devastate Lives of Children with Disabilities

The Israeli government’s attacks and unlawful blockade against Gaza have...

Niger: New Terrorism Database Threatens Rights

(Nairobi) – A new Niger government ordinance creating a database...

AI / ML

AI pareidolia: Can machines spot faces in inanimate objects?

In 1994, Florida jewelry designer Diana Duyser discovered what...

New security protocol shields data from attackers during cloud-based computation | MIT News

Deep-learning models are being used in many fields, from...

720 Australian and Brazilian Children Better Protected from AI Misuse

LAION, the German nonprofit organization that manages a dataset...

Army Soldier Arrested for Using AI to Generate Child Pornography

An Army soldier stationed at Joint Base Elmendorf-Richardson in...

MIT researchers use large language models to flag problems in complex systems | MIT News

Identifying one faulty turbine in a wind farm, which...

Former Singapore Minister Jailed for Obstructing Justice, Accepting $300K in Gifts

A Singapore court sentenced former minister S. Iswaran to 12 months in prison on Thursday for obstructing justice and accepting over $300,000 in gifts....

Updated Wire Transfer Regulations Guidance

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....

Tribes in Nevada Honor Victims of Cavalry Massacre

On September 21, I attended the fourth annual commemoration of a massacre at Peehee Mu’huh, land sacred to People of Red Mountain (Atsa Koodakuh...

Tunisia: Release Former Truth Commission President

(Beirut) – A Tunisian judge has detained a prominent activist and former president of the Truth and Dignity Commission, Sihem Bensedrine, apparently in retaliation for...

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

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...

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