The Australian Federal Police has announced it recorded a spike in online financial sextortion reports over the Christmas/Summer 2022 school holiday period. According to the AFP-led Australian Centre to Counter Child Exploitation (ACCCE), reports from December alone increased by almost […]
State of Financial Crime 2023 Report
The Thai Bankers’ Association (TBA) is discussing how to accelerate the establishment of a new investigative authority that will monitor deceptive and fraudulent transactions linked to criminals.
The Bangko Sentral ng Pilipinas (BSP) has released a draft circular outlining proposed amendments to the country’s money laundering (ML), terrorist financing (TF), and proliferation financing (PF) risk reporting and notification requirements for banks and non-bank financial institutions. The BSP […]
On December 7, 2022, the Legislative Council of Hong Kong passed an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) that introduces a licensing regime for virtual asset service providers (VASPs). According to the Secretary for Financial Services […]
On December 14, 2022, the Australian Transaction Reports and Analysis Centre (AUSTRAC) published the country’s inaugural national proliferation financing risk assessment. Aimed at strengthening national and global efforts to combat this criminal activity, the risk assessment combines knowledge from multiple […]
On December 7, 2022, the Australian Transaction Reports and Analysis Centre (AUSTRAC) commenced civil penalty proceedings against major Australian casino operator SkyCity Adelaide for alleged “serious and systemic non-compliance” with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulations. Its enforcement […]
INTERPOL’s latest police operation to tackle online fraud has seen 975 arrests and the seizure of virtual assets worth almost $130 million. Codenamed Operation HAECHI-III, the 5-month-long joint task force targeted a specific range of cyber-enabled financial crimes, including voice […]
On November 15, 2022, the US-China Economic and Security Review Commission (USCC) released its annual report to Congress. Among the report’s concluding recommendations, the committee proposed creating a cross-agency body tasked with drafting sanctions against China in the event of […]
Nicole Rose, CEO of the Australian Transaction Reports and Analysis Centre (AUSTRAC), has expressed further concern over “gatekeeper professions” not being subject to the country’s anti-money laundering (AML) regime. Rose argues that a failure to regulate these professions, also known […]
The Monetary Authority of Singapore (MAS) has issued a statement aimed at licensed digital payment token service providers (DPTSPs), reminding them of their obligation to comply with financial sanctions against Russia. Responding to a query from Channel News Asia, the […]
PingPong needed a solid solution to streamline its due diligence checks to meet its compliance obligations across many different jurisdictions and build trust with its new and expanding customer base.
The Hong Kong Special Administrative Region’s government has announced it will present a policy statement on the city’s digital assets market during Hong Kong’s upcoming FinTech Week. Financial Secretary Paul Chan Mo-po said the statement will cover several key topics, […]