On May 11, 2023, Canada’s division of the global anti-corruption non-government coalition Transparency International (TI) published a whitepaper on establishing a Canadian Financial Crime Agency (CFCA). The report follows Canada’s 2022 budget, which laid out plans to bolster Canada’s ability […]
The Australian Securities and Investment Commission (ASIC) has announced the imminent introduction of a cross-industry code that will hold banks, telcos, and social media platforms responsible for scam safety and make them liable to reimburse people who lose money through […]
The recent Guidance Paper on Transaction Monitoring from the Philippines Office of the Deputy Governor of Financial Supervision describes the comprehensive capabilities required to fight financial crime. As the financial services world gets smaller with the introduction of more real-time […]
On May 3, 2023, the UK Government published its new fraud strategy, setting out over 50 measures to reduce fraud and cybercrime by 10 percent by 2025. The Home Office said the strategy would “establish a coordinated response from the […]
On May 3, 2023, the Department of Justice (DOJ) sentenced defendant Leroy Holmes to five years in federal prison for his connection to a counterfeit card encoding scam that resulted in the fraudulent creation of nearly 600 credit cards, debit […]
On May 9, 2023, the Monetary Authority of Singapore (MAS) announced that the Financial Services and Markets (Amended) Bill (FSM(A)B) had been passed by parliament, creating a regulatory framework for MAS’ secure information-sharing platform that is due to launch in […]
On May 2, 2023, the Department of Justice (DOJ) sentenced defendant Michael Ansezell Tolliver to ten years in prison for his connection to a COVID-19 fraud scheme that resulted in him obtaining over $1.1 million in Paycheck Protection Program (PPP) […]
In a circular promoting access to banking services for corporate customers, the Hong Kong Monetary Authority (HMKA) has urged banks to provide services to licensed virtual asset service providers (VASPs). Specifically, the regulator encourages authorized institutions (AIs) to adopt “a […]
In a new report, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has set out a case for anti-money laundering supervisory reform to help professional body supervisors (PBSs) “achieve full and consistent effectiveness.” The report follows the government’s review […]
On April 18, 2023, Singapore’s Ministry of Home Affairs (MHA) and the Smart Nation and Digital Government Office (SNDGO) proposed stricter laws to strengthen the country’s defense against scams facilitated by money mules. While the police investigated more than 19,000 […]
On April 19, 2023, the Department of Justice (DOJ) announced the sentencing of the former National Treasurer of Venezuela and her husband for their roles in a money laundering and international bribery scheme dating back to 2008. According to unsealed […]
The Financial Conduct Authority (FCA) has introduced a new raft of measures for financial institutions to help them mitigate the risk of cash deposit channels being criminally abused for money laundering purposes. The new rules come in light of the […]
EN
FR