Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA)

An Act to provide for the confiscation of benefits derived from, and to combat, corruption, drug dealing and other serious crimes and for purposes connected therewith.

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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 said they expect the increase ...

BCBS: AML/CFT Risks and opportunities on Fintech The Basel Committee on Banking Supervision (BCBS) released a consultation paper on the implications of fintech for the financial sector last Thursday on August 31st named, Sound Practices: Implications of fintech developments for banks and bank supervisors. The paper observed various scenarios such ...

Financial Intelligence Units (FIUs) According to The Egmont Group, the definition of a Financial Intelligence Unit (FIU) is as follows: Countries should establish a financial intelligence unit (FIU) that serves as a national centre for the receipt and analysis of (a) suspicious transaction reports; and (b) other information relevant ...

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