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 →
News
Latest updates around the world on AML/CFT.
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 →
Malaysian PEP Adam Rosly Investigated for his “Unusual Wealth”
MALAYSIA - Datuk Adam Rosly, 29, a youth opposition leader at the Parti Keadilan Rakyat (PKR) was remanded for five days to allow the Malaysian Anti-Corruption Commission (MACC) to investigate into his "unusual wealth". The MACC is Malaysia's efforts to combat ... Read More →
Coutts & Co AG Fined SG$1.3m for Failing to Identify PEPs
Hong Kong Monetary Authority (HKMA) has fined Coutts & Co AG, Hong Kong Branch, HK$7 million (SG$1.3 million) for contravening provisions in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. This is a result of an ... Read More →
Credit Suisse Raided for Tax Evasion Probe in 5 Countries
Switzerland's second-largest bank, Credit Suisse, has been raided on Thursday after a tip-off to Dutch prosecutors. The coordinated raids happened in, Netherlands, Britain, Germany, France and Australia. Dutch Anti-Fraud Agency, the FIOD, are "investigating dozens of ... Read More →
