5th December 2016
The Enforcement Directorate has arrested two officials of a private bank in the capital in connection with its money laundering probe for alleged irregularities in the conversion of old currency and supply of new notes leading to black money generation. Read More
1st December 2016
Casinos, real estate developers and dealers of high-value items will have to report any cash transaction exceeding P500,000 or $10,000 to the Anti-Money Laundering Council (AMLC) to help stop any illegal fund transfers in the Philippines. Read More
30th November 2016
On 21 November 2016 the FCA issued a booklet aimed at consumer credit firms setting out good and bad practice on compliance with obligations under the Money Laundering Regulations 2007 (MLR). Read More
29th November 2016
Having spent billions of dollars on post-crisis U.S. financial industry reforms they once scorned, bankers are concerned the Trump administration, joined by a like-minded Congress, will scrap or significantly change the rules Read More
28th November 2016
The Financial Crime & Operational Security report brings together Financial Crime Directors, Chief Security, Chief Information, Chief Risk and cyber-crime professionals to examine and debate initiatives that could give them competitive advantage in the fight against financial crime. Read More
28th November 2016
Financial innovation firm R3 is seeking to use blockchain technology to streamline identification processes in regards to Know Your Customer registries. They've created a proof-of-concept for a system where an individual manages their own ID on a distributed public ledger. Read More
24th November 2016
A series of recent news events have highlighted the continued focus of global regulators on money laundering and compliance failures at international financial institutions. Read More
23rd November 2016
A U.S. banking regulator is considering whether to harden sanctions against lenders that abuse their clients or violate banking laws Read More
22nd November 2016
Tom Devlin, partner at Stephen Platt & Associates LLP, considers the limitations of the traditional AML model and why it undermines efforts by financial institutions to guard against the facilitation of crime. Read More
10th November 2016
Recent anti-money laundering enforcement actions against major U.S. financial institutions have placed boards of directors front and center in the management and oversight of their institutions’ Bank Secrecy Act and other anti-money laundering (“BSA/AML”) programs. Read More