Tag: Money laundering

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INDUSTRY: AML Rightsource continues global expansion with appointment of managed services leader in India

Singapore

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NEWS: Singapore subsidiary of Citigroup and CIMB Group Holdings affected in billion-dollar laundering raid

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NEWS: Jersey FIU warns of spike in Linkedin account hacks, security breaches

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Bungalows, cars seized in Singapore’s billion-dollar swoop on money laundering

OPINION: Why Switzerland is a haven for the world’s biggest money launderers

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NEWS: Hong Kong fines EFG Bank HK$16M (€1.9M) for AML failings

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Audit criticises ‘misconduct’ at Lebanon c.bank, urges oversight

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INSIGHT: UK banks are closing more than 1,000 accounts every day

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Mirabaud Bank fined DH11.1M (€2.7M) for weak AML controls

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INSIGHT: Staff at Monzo bank called government party ‘evil’ as British chancellor rejected for an account

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NEWS: Cyprus government on track to meet its AML obligations

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NEWS: HSBC CEO on Farage-Coutts spat: ‘We do not exit clients based on their lawful personal views’

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FINTRAC imposes an administrative monetary penalty on Marouf Management Inc.
FINTRAC
May 13, 2025
FINTRAC announced today that it has imposed an administrative monetary penalty on Marouf Management Inc., also operating as Marouf Currency Exchange and 1998063 Ontario Inc. Following a compliance examination in 2023, this money services business in Toronto, Ontario, was imposed an administrative monetary penalty of $249,480.50 on November 4, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.
The DFSA brings 18 Authorities together to discuss AI and cybersecurity risks at inaugural Regulatory College during Dubai FinTech Summit 2025
DFSA
May 13, 2025
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), hosted this week its inaugural high-level Regulatory College at the heart of the Dubai FinTech Summit 2025. The closed-door session titled “Innovation with integrity: Advancing Cybersecurity and AI oversight through international dialogue” brought together more than 30 regulators from 18 Authorities from the UAE, the wider GCC region, and international jurisdictions to discuss pressing issues related to cybersecurity and artificial intelligence (AI).
Fintel Alliance to expand after intelligence partnerships prove essential to fight financial crime
Austrac
May 13, 2025
Joint efforts under AUSTRAC’s Fintel Alliance have led to significant law enforcement outcomes, prompting AUSTRAC to expand its successful intelligence partnership. Fintel Alliance is a world leading public-private partnership where members and law enforcement work together and share data in real time to target serious crime. AUSTRAC CEO, Brendan Thomas said the Intelligence Division’s Fintel Alliance has been so productive that the agency will now make its collaborative data analytics hub a central function going forward.