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 →
Latest updates around the world on AML/CFT.
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 →
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 →
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 →
Compliance-related jobs, once in hot demand, are now slowing down as technology is now robust enough to perform transactional surveillance on behalf of humans. Banks around the world have been deploying new technologies that can replace manual Customer Due Diligence ... Read More →