When governments raise tariffs, the stated objective is usually economic: to protect domestic industries, rebalance trade or exert geopolitical pressure. Yet tariffs also carry a quieter and less examined consequence. By distorting prices and redirecting global supply ... Read More →
Insights
Get insights from relevant international organisations on combating financial crime
Effective Suspicious Activity Reporting by Wolfsburg Group
The Wolfsberg Group's statement on effective monitoring of suspicious activity highlights the evolving strategies financial institutions (FIs) should adopt to combat financial crime was released on 1st July 2024. The statement underscores the importance of transitioning ... Read More →
Dealing with inconclusive name screening matches
A key aspect of AML/CFT compliance is name screening, which involves checking the names of individuals and entities against watchlists, containing multiple lists of sanctioned or high-risk individuals and organisations, usually obtained through a name screening database ... Read More →
G20 Adoption of Beneficial Ownership Principles Slow
In the fight against money laundering, terrorist financing, corruption, human trafficking, sanctions and tax evasion and other financial crimes, shell companies are a key instrument for beneficial owners in providing anonymity. However, a report by Transparency ... Read More →
Are Banks in Singapore De-risking Cryptocurrency Firms?
Singapore cryptocurrency firms are facing bank account closures, according to a news report by Bloomberg. By design, digital currency provides greater anonymity than traditional non-cash payment methods, which makes them attractive to money launderers and terrorists. In ... Read More →
