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Regulatory Update

24th November 2016

Navigating the new anti-money laundering normal

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

16th November 2016

Embraer deal: India’s enforcement directorate registers money laundering case

After India's Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) has now registered a money laundering case to probe the alleged payment of USD 5.7 million kickbacks in the 2008 Embraer aircraft deal. Read More

11th November 2016

Ex-BSI banker jailed for forgery in Singapore’s 1MDB scandal

A former senior BSI Bank vice president was jailed on Friday for 18 weeks by a Singapore court, for forgery and failure to disclose suspicious transactions as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal. Read More

10th November 2016

Singapore police say Malaysian financier Jho Low ‘key person of interest’ in 1MDB probe

Singapore police disclosed in court Thursday that the Malaysian financier at the heart of a scandal involving the Malaysian state investment fund 1MDB is a person of interest in the city-state’s ongoing probe into an alleged multibillion-dollar money-laundering scheme. Read More

8th November 2016

Rurik Jutting, British banker, guilty of Hong Kong murders

British banker Rurik Jutting has been found guilty of murdering two Indonesian women in Hong Kong, in a case that has gripped the city. Read More

31st October 2016

Trial of ex-BSI banker Yeo Jiawei kicks off in Singapore, first in international 1MDB probe

The prosecution will call nine witnesses in its case against former BSI banker Yeo Jiawei – the first person to be tried for the key role he allegedly played in a massive money laundering operation linked to scandal-hit 1Malaysia Development Bhd (1MDB) fund. Deputy Public Prosecutor Tan Kiat Pheng, in his opening… Read More

20th October 2016

Singapore: Ex-employee of Micro 2000 Technology charged with corruption involving over $400k

A former employee of Micro 2000 Technology, an IT business solutions company, was charged on Thursday (Oct 20) with 121 corruption charges involving more than $400,000, and concealing $126,990 which were the benefits from a criminal conspiracy. Yeo Jingyuan, 30, was a team leader overseeing customer service officers when he… Read More

19th October 2016

Indonesia: Repatriated funds yet to move economy

The great expectations of bringing back wealthy Indonesians’ funds from overseas under the tax amnesty have hit a snag, with many declaring their assets in the program, but with little repatriation. As of Tuesday evening, Rp 143 trillion (US$11.01 billion) have been repatriated under the amnesty, a fraction of the… Read More

14th October 2016

Singapore: 2 former Micro 2000 Technology employees charged with corruption

Two former employees of Micro 2000 Technology were charged with corruption on Friday (Oct 14). Ng Jun Siang, a former team leader for Customer Service Officers (CSOs), is accused of 26 counts of corruptly accepting gratification amounting to S$238,530, according to the Corruption Practices Investigation Bureau (CPIB). The court heard that… Read More

11th October 2016

Singapore shuts down second Swiss bank linked to 1MDB money laundering

Singapore’s central bank on Tuesday shut down a second Swiss bank under investigation for alleged money laundering activities linked to Malaysian state fund 1MDB. The Monetary Authority of Singapore (MAS) said it had ordered Falcon Bank to cease its operations in the city-state because of serious lapses in… Read More

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