Hong Kong - The Hong Kong Police Force (HKPF) in collaboration with the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB) and several banks launched a 12-month pilot project named the Fraud and Money Laundering Intelligence Taskforce (FMLIT) ... Read More →
Asia
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1 in 5 banks in Asia Pacific says tax evasion will double: Survey
Singapore - A recent poll conducted by data analytics firm FICO revealed that one in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 percent over last year's levels. Additionally, a further one in five senior fraud managers surveyed ... Read More →
Singapore’s MyInfo now used by banks, ease KYC process
As part of Singapore’s initiative towards being a Smart Nation by leveraging technology to serve the nation better, MyInfo, a consent-based identity profile platform for Singaporeans or permanent residents, was launched by the Government Technology Agency (GovTech) and ... Read More →
Singapore forms new AML/CFT partnership with MAS, CAD and eight banks
Singapore's financial regulator, Monetary Authority of Singapore (MAS), and the financial intelligence unit of Singapore, Commerical Affairs Department (CAD) of the Singapore Police Force, announced the launch of a government-industry partnership to ramp up efforts in ... Read More →
Travel Agency Used as a Front by Terrorists
A travel agency was created on Bintan Island, Indonesia as a cover for the Islamic State in Iraq and Syria (ISIS) to facilitate the safe passage of other terrorists. The agency was created by Indonesia militant suspect Gigih Rahmat Dewe with an initial seed money of 27 ... Read More →
