The founder of the exchange Hassanien Touma was banned on 20 May 2019 from any management roles at a business governed by AML regulations.
It has been reported that Hong Kong’s AML/CFT regime is assessed to be compliant and effective overall which makes it the first APAC jurisdiction to achieve an overall compliant result in the current round of FATF evaluations.
The Morrison government is finalizing legislation and will soon criminalize cash transactions $10,000 or above.
The OFSI has notified Standard Chartered that it intends to impose a penalty of more than £10m in the coming weeks, Sky News reported.
BNZ processed a payment identified to be for oil originating from Iran, which once used to be New Zealand’s fifth-largest trading partner.
BNZ acknowledged the fact that bank had missed the mark as there were areas of potential non-compliance, which included – account monitoring, suspicious transaction reporting, EDD (Enhanced due-diligence), and PEP screening.
The latest findings by the Solicitors Regulation Authority were released as part of the Upholding Professional Standards 2017/18 report. There was a 43% increase in money laundering reports in the opening nine months of 2018.
Jin Yuan Finance Ltd has been slammed by the Department of Internal Affairs over its AML/CFT controls.
A 60-year-old opposition leader, Abdulla Yamee is accused of laundering US$1 million
deposited to his personal account by SOF .
Recently, the Spanish police department has caught a gang who was using Bitcoin ATMs to launder money.