U.S. returns another $300 million of recovered 1MDB funds to Malaysia
15th April 2020
U.S. returns another $300 million of recovered 1MDB funds to Malaysia
The U.S. Department of Justice on Tuesday said it has repatriated another $300 million to Malaysia in recovered money misappropriated from 1Malaysia Development Berhad, or 1MDB, the country’s sovereign wealth fund. The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009. The DOJ estimated… Read More
Singapore man arrested for money laundering offences linked to S$10 million COVID-19 scam for surgical masks, hand sanitisers
6th April 2020
Singapore man arrested for money laundering offences linked to S$10 million COVID-19 scam for surgical masks, hand sanitisers
A 39-year-old man has been arrested for his suspected involvement in money laundering offences linked to a business email impersonation scam related to COVID-19. The police said in a news release on Saturday (Apr 4) that they were alerted in mid-March to a case of an overseas pharmaceutical company being defrauded of… Read More
MAS imposes S$400,000 AML penalty on TMF Trustees Singapore
20th March 2020
MAS imposes S$400,000 AML penalty on TMF Trustees Singapore
The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$400,000 on TMF Trustees Singapore Limited (TTSL) for failing to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism requirements. Following an inspection by MAS, the firm was found to have failed to meet MAS’ requirements for trust… Read More
Singapore fintech: Digital wholesale banking arrives
6th March 2020
Singapore fintech: Digital wholesale banking arrives
In June, Singapore’s regulator will hand licences to three new wholesale digital banks in a bid to better serve under-banked SMEs. Euromoney talks to Arival Bank, a fintech firm aiming to snag a licence and use it to fuel its global ambitions. And so to the next stage of digital… Read More
Goldman Sachs pleads not guilty in Malaysia over 1MDB bond sales: state media
25th February 2020
Goldman Sachs pleads not guilty in Malaysia over 1MDB bond sales: state media
Three units of Goldman Sachs (GS.N) pleaded not guilty to charges of misleading investors regarding $6.5 billion in bond sales that the U.S. investment bank helped raise for state fund 1Malaysia Development Berhad (1MDB), Bernama state news agency reported on Monday. The U.S. Department of Justice estimates $4.5 billion… Read More
US, Singapore Jointly Declare Opposition to Data Localisation
7th February 2020
US, Singapore Jointly Declare Opposition to Data Localisation
The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements. MAS (Monetary Authority of Singapore) and the US Treasury Department have issued a joint statement declaring their support for cross-border data transfers by financial services firms, and opposing… Read More
MAS to Broaden Range of Climate Risks Included in Stress Tests
6th February 2020
MAS to Broaden Range of Climate Risks Included in Stress Tests
MAS (Monetary Authority of Singapore) is working on incorporating a broader range of climate change-related risks in stress testing scenarios. In a written reply to Parliament, MAS said it has already started to stress test for climate change-related risks, but that the methodologies for stress testing these risks are… Read More
Singapore’s Payment Services Act Comes Into Force
30th January 2020
Singapore’s Payment Services Act Comes Into Force
MAS (Monetary Authority of Singapore) on Tuesday (28 January) announced the commencement of the Payment Services Act (PS Act). Singapore’s Parliament passed the law in January 2019, providing a new framework to streamline the regulation of payment services under a single legislation and bring different payment activities under the… Read More
New Singapore Law Allows Global Crypto Firms to Expand Locally
28th January 2020
New Singapore Law Allows Global Crypto Firms to Expand Locally
Singapore is introducing new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from… Read More
How shadowy brokers allegedly launder billions for crypto criminals
16th January 2020
How shadowy brokers allegedly launder billions for crypto criminals
Criminals have long turned to cryptocurrencies like Bitcoin to carry out crimes including ransomware and extortion. But as law enforcement has improved at tracking the semi-anonymous currencies, criminals have had to devise new tactics for turning ill-gotten crypto proceeds back into cash. In response, a… Read More
Popular

Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators

Ukraine’s Top Court Deals Critical Blow To Anti-Corruption Agency

Feds seek at least 6 months in prison for SARs leak to BuzzFeed

UK: Sex slaves forced into drug dealing by crime gangs

Global dirty money watchdog revamps rules to battle weapons financing – U.S.

Must Read

Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators

Perth businessman Chris Marco’s alleged Ponzi scheme left investors billions short, court told

Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering

Ex-South Korean leader headed for jail after losing final appeal in graft case

U.S. unveils more sanctions on Iran and sells off Iranian oil