Home AML AML News

AML News

Latest news related to Anti-Money Laundering.

May 20 2018 A groundbreaking task force which aims to haul Hong Kong’s fight against money laundering into the 21st century has been handed a six-month extension to its year-long trial status. Formed in response to global concern that current systems to identify, disrupt and seize the massive flow of dirty...
May 20 2018 Over a third of Singapore businesses said they were hit by fraud in the last two years as threats increased and detection methods improved. According to a global survey conducted by PwC every two years, the proportion is a sharp rise from 2016, when just 22% of organizations...
May 14 2018 On 14 May 2018, the Council adopted a directive strengthening EU rules to prevent money laundering and terrorist financing. The directive sets out to close down criminal finance without hindering the normal functioning of payment systems. Amending directive 2015/849, it is part of an action plan launched after...
May 14 2018 The Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Industry Partnership (ACIP) has recommended a set of best practices for financial institutions to guard against trade-based money laundering and the misuse of company structures for illicit purposes. As an international financial centre and transport hub, Singapore...
May 11 2018 The United States Treasury Department, working with authorities in the United Arab Emirates, broke up a money laundering scheme that provided millions of dollars to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), Reuters reported Thursday. Treasury designated six individuals and three business entities for their role in the scheme. The...
Sukhdev Singh, who has been jailed for three-and-a-half years, took money made from criminal activity into his Normanton house where he would count it before delivering it around the country. Police found £171,000 in cash at the home. Singh was involved in what police said was one of the biggest money-laundering...