UNITED STATES - Senators have taken aim at digital currencies, such as bitcoin and ethereum, with a new anti-money laundering (AML) bill. Senators Chuck Grassley of Iowa and Dianne Feinstein of California introduced the bill titled “Combating Money Laundering, ... Read More →
News
Latest updates around the world on AML/CFT.
Hong Kong launches new Fraud and Money Laundering Intelligence Taskforce (FMLIT)
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 →
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 →
South Africa’s Zuma Signs Anti-Money Laundering Bill Into Law
The President of South Africa, Jacob Zuma, signed the amendment of the Financial Intelligence Centre Act that aims at tackling money laundering, tax evasion, and terrorist financing activities. The bill will allow increased scrutiny of the bank accounts of "prominent ... Read More →
