The Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) have observed the emergence of initial coin (or token) offerings (ICOs), and other investment schemes involving digital tokens, in Singapore. Members of the public are advised to … [Read more...] about Consumer Advisory on Investment Schemes Involving Digital Tokens (Including Virtual Currencies)
Latest updates around the world on AML/CFT.
The Asia/Pacific Group on Money Laundering (APG) announced that Bangladesh would be taking over the Co-Chair from Sri Lanka. The position was established in the APG’s first annual meeting in Tokyo, Japan, where its members will be elected for a two-year term. During … [Read more...] about Bangladesh to take over Co-Chair of the APG in 2018
NEW YORK (Reuters) - A federal judge has dismissed a lawsuit accusing Deutsche Bank AG of concealing major deficiencies in its anti-money laundering controls, even as it allowed "mirror trades" to launder money out of Russia as part of a $10 billion trading … [Read more...] about Lawsuit over Deutsche Bank’s Russia trades dismissed: U.S. judge
LONDON (Reuters) - A network of dummy online stores offering household goods has been used as a front for internet gambling payments, a Reuters examination has found.The seven sites, operated out of Europe, purport to sell items including fabric, DVD cases, maps, … [Read more...] about Fake Online Stores Reveal Gamblers’ Shadow Banking System
PRESS RELEASE BY MINISTRY OF FINANCE, SINGAPORE On 21 June 2017, Singapore will sign the Multilateral Competent Authority Agreements (“MCAAs”) on:the Automatic Exchange of Financial Account Information under the Common Reporting Standard (“CRS”); and the … [Read more...] about Singapore Signs MCAAs to Enhance Tax Co-operation on Exchange of Information