Terrorism financing
Bank of Singapore’s new AI tool does in one hour what used to take 10 days
Besides being a time saver, the tool cuts down on human error from examining documents on clients’ employment, business and investment history
MAS fines investment firm S$1.9 million for making big customer transactions without adequate checks
AAIM ran afoul of the central bank’s anti-money laundering and countering financing of terrorism requirements
ABS partnership outlines best practices for anti-money laundering audits in banks
The paper provides bank internal auditors, as well as external auditors working with banks, a common framework to formulate and execute audits.
Digital payment token service providers at higher risk of facilitating terrorism financing
Money remittances remain at ‘high risk’, while cross-border online payments are flagged as a potential new channel in latest national risk assessment report
India passes anti-money laundering review despite concerns
A GLOBAL anti-money laundering watchdog said India largely complied with its rules, although the country needs to do more to beef up its supervision of preventative measures in some non-financial sect...
South-east Asia increasingly used for illicit money flows, terrorist financing: US Treasury official
The official says there are some ‘indications’ that Russia is sourcing some critical components from the region
Swiss-Asia Financial Services fined S$2.5 million for breaches of anti-money laundering rules
Anti money-laundering controls did not keep pace with company’s significant growth
MAS tightens grip on digital payment token service providers with new user protection measures
THE Monetary Authority of Singapore (MAS) has launched new measures to keep digital payment token (DPT) service providers accountable against money laundering and terrorism financing.
MAS launches centralised digital platform against money laundering, terrorism financing
THE Monetary Authority of Singapore (MAS) launched Cosmic – which stands for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases – to facilitate customer information-sh...
Illicit crypto addresses received at least US$24.2 billion in 2023: report
AT LEAST US$24.2 billion worth of crypto was sent to illicit crypto wallet addresses in 2023, including addresses identified as sanctioned or linked to terrorist financing and scams, crypto research f...
