Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
AML
Posted inAML
Kroll, Coinfirm partner on crypto compliance
Kroll, a division of global advisor Duff & Phelps, announced it now offers crypto compliance and investigations solutions through a collaboration with blockchain analytics firm Coinfirm.
Posted inAML
Alstom executive convicted of FCPA and money-laundering charges
A former Alstom executive was found guilty by a federal jury for his role in a multi-year, multi-million-dollar foreign bribery scheme and related money-laundering scheme in Indonesia.
Posted inAnti-Bribery
Department of Justice recovers $700M in 1MDB scandal
Jho Low, a Malaysian businessman-turned-fugitive, has agreed to forfeit more than $700 million worth of assets that he and his family allegedly misappropriated from Malaysian’s sovereign-wealth fund, 1MDB.
Posted inAccounting & Auditing
EY accused in U.K. gold-laundering scheme
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
Posted inAML
Bill to expose shell companies passes House vote
A proposed bill to crack down on anonymous shell companies passed a House of Representatives vote Tuesday and will progress to the Senate.
Posted inAnti-Bribery
Singapore regulator: Technology creates both challenges, opportunities
The evolution of technology is enabling myriad capabilities for regulatory and financial crime compliance, but it is also presenting complex financial crime risks, according to a representative from the Monetary Authority of Singapore (MAS) at the International Compliance Association’s second Asia Pacific (APAC) conference this week in Singapore. Delivering the opening keynote speech, Loo Siew […]
Posted inAML
Bill requiring shell companies to disclose ownership introduced in Senate
Aimed at fighting money laundering, newly proposed legislation looks to mandate full transparency from shell companies on ownership and also fosters greater communication between financial institutions and law enforcement agencies.
Posted inEurope
Swedbank names permanent chief compliance officer
Faced with numerous AML investigations, Swedbank made several significant moves this week, including naming a permanent CCO and agreeing to waive attorney-client privilege by handing over an internal report to local prosecutors.
Posted inEurope
FINMA publishes AML guidance on blockchain
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.
