18th May 2016
Governments often behave as if they believe all problems can be solved by passing laws. If something is troubling, make it a crime and it will go away. Sometimes they may even be right. Read More
18th May 2016
More than half of global companies interested in doing business with Iran are holding back for fear of running afoul of sanctions that remain in place even after its nuclear deal with world powers, a new survey shows. Read More
18th May 2016
The US has lifted more of its economic sanctions on Myanmar to signal its support for ongoing political reform after decades of military rule. Read More
18th May 2016
To further enhance the cyber resilience of the banking sector in Hong Kong, the Hong Kong Monetary Authority (HKMA) announced today the launch of a “Cybersecurity Fortification Initiative” (CFI) at the “Cyber Security Summit 2016” (the ‘Summit’), in which the HKMA also serves as the Programme Advisor for this prestigious event. Read More
18th May 2016
A 31-year-old Felton man, Deangelo Mcglotten, is the "ringleader" of a large-scale heroin distribution effort that a two-year police investigation just broke apart, authorities said announcing the indictment of Mcglotten and 13 other people on drug, conspiracy, racketeering and money laundering charges. Read More
17th May 2016
The Mutual Fund Dealers Association of Canada has issued fines and penalties totalling more than $8 million against two principals of now-defunct W.H. Stuart Mutuals Ltd. in relation to the misappropriation of millions of dollars of money from investors. Read More
17th May 2016
The idea that a “fifth pillar” of Anti-Money Laundering (“AML”) compliance – customer due diligence requiring U.S. banks, broker-dealers, mutual funds, commodity futures merchants, and introducing brokers (“covered financial institutions”) to identify and verify beneficial owners – would, at some point, augment the long-standing four-pillared foundation of AML compliance has been in the air for a number of years. Covered financial institutions have been aware of its imminence since March 2012 when the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued the Advanced Notice of Proposed Rulemaking concerning customer due diligence. Read More
17th May 2016
Corporate Australia reports seeing more local economic crime than the rest of the world. Read More
13th May 2016
The review of the Anti-Money Laundering and Counter Terrorism Financing Act advocates making the Act simpler and more principles-based, and the AML/CTF Rules rationalised and more user-friendly. Read More
12th May 2016
The regulator of Dubai’s financial free zone imposed restrictions on Noyan Ahyan, a former trader at an unnamed company at the Dubai International Financial Center, for inflating the value of his trading book by $11 million to conceal losses. The Dubai Financial Services Authority imposed the restrictions after investigations found… Read More