In February 2024, the European Parliament issued new regulations to ensure financial transactions reach their recipients instantly across the European Union. The new rules update certain regulatory requirements for banks and other types of payment service providers (PSPs). In addition […]
In 1992, Singapore criminalized money laundering under the Drug Trafficking (Confiscation of Benefits) Act (DTA). However, due to criticism of the DTA’s limited scope, criminalizing only drug-related offenses as money laundering – an amendment to the legislation was introduced in […]
Following a review of its AML/CFT framework, the European Union is preparing to introduce a suite of new regulations that will have significant implications for firms operating in, or doing business with, EU countries.
The fifth Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place at the FATF headquarters in Paris on February 21-23, 2024. We’ve summarized the key developments: Changes to the grey list. Increasing […]
At the forefront of Australia’s defense against financial crime is the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006. This legislation plays a pivotal role in safeguarding the financial system’s integrity, ensuring transparency, and detecting illicit activities that can undermine […]
Join industry experts and a law enforcement professional for an exclusive look into the latest developments in AML regulations, new AML typologies and trends. They will share proactive risk management strategies to help compliance leaders navigate the financial crime landscape.
The G20 Finance Ministers and Central Bank Governors (FMCBG) adopted a new regulatory roadmap for crypto assets at a meeting in Marrakech, Morocco, on October 13, 2023. The roadmap represents a step away from an outright ban, focusing instead on […]
This guide, written by compliance experts at ComplyAdvantage and Resistant AI, explores the growing regulatory momentum around AI in the United States. It explains existing and proposed federal and state legislation and provides practical tips for compliance leaders looking to ensure their firms keep pace with regulators.
In the past, businesses created in the United States were not obliged to publicly disclose or maintain a record of the names of their shareholders or ultimate beneficial owners (UBOs). This lack of transparency meant it was possible for anonymous […]
2022 witnessed unprecedented trends impacting financial crime-fighting in the United States. Alongside China-US tensions, the invasion of Ukraine transformed the use of sanctions. Meanwhile, concerns over environmental crime and the exploitation of decentralzed finance platforms spiked. How can compliance teams effectively prepare?
After a series of high-end property raids in August recovered close to $1 billion in laundered assets, Singapore’s Council for Estate Agents (CEA) is investigating several property agents for potential involvement in illicit transactions. The CEA responded to the raids […]
In conjunction with Internal Revenue Service Criminal Investigation (IRS CI), the US Financial Crimes Enforcement Network (FinCEN) has released a notice asking financial institutions to report signs of workers’ compensation fraud and payroll tax evasion in the construction industry. The […]
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