Tag: money laundering

Indonesia and Brunei central banks cooperate on anti-money laundering and counter-terrorism measures.

CEO apologizes and says lender has recruited 200 staff to fight crime. The bank is now set to increase provisions by a further A$404 mln on top of a A$900 mln charge already taken.

Beneficial ownership, it seems, is in the eye of the beholder. With jurisdictions making their own rules, they're set to become as complex as sanctions, a banker argues

Getting the jump on regulators and smoothing your path through the compliance jungle means thinking like a money launderer argues one panelist at the recent 2019 ASEAN Regulatory Summit

*ADB study points to large trade finance gap in Asia *PBoC unveils green finance vision *Cambodia and China sign AML pact *Sri Lanka gives land lease tax break to foreign firms

*Malaysia establishes fintech group *Singapore builds "sandbox" for fintech *UK warns on burdens to fintech companies *Europe wants hands off on blockchain

In a record year for anti-money laundering penalties, US regulators slapped multinational banks with more than $1.1 billion in fines in 2012, specifically for ‘payment stripping’ and knowingly making payments to sanctioned countries.

Dodgy-looking cash transactions surge 29% in Hong Kong. Police have attributed the jump to "improved awareness" from financial institutions since anti-laundering laws kicked in in April.