08.18.17

New legislation intended to prevent terrorist financing

Government currently has no idea about how many nonprofit organizations operate in the territory, according to Ministry of Financial Services and Home Affairs Policy Officer Wilbur Welcome. Such lack of information is a problem for a jurisdiction susceptible to being used for terrorist financing and other nefarious activities, he said.



08.18.17

The Philippines’ Anti-Money Laundering Council Adopts Tougher Rules Against Money Launderers

The Philippines’ Anti-Money Laundering Council (AMLC) has adopted rules that impose tougher sanctions and higher fines to individuals and banks found to have engaged in money laundering activities. Under the new rules and regulations, the council can impose administrative sanctions against violators of the Act.



08.18.17

Australia proposes stronger money laundering rules, includes bitcoin

Australia said on Thursday it would strengthen its money laundering laws, including bringing bitcoin providers under the government's financial intelligence unit, days after a fresh scandal at one of the country's biggest banks.



08.18.17

Nordea and Danske Bank being investigated for money launderin

Nordea is now keeping people informed about an ongoing investigation by the Danish Prosecution Service into its alleged anti-money laundering (AML) violations.



08.18.17

Terror Attacks to Threaten Bitcoin Anonymity in Europe

European regulators are looking to cut terrorism off at its source by stopping its funding in the wake of the Paris and Brussels terror attacks. For them, this means casting a scrutinizing eye over the anonymous digital currencies such as Bitcoin.



08.17.17

Casinos and anti-money laundering

In 2000, then BSP Governor Rafael B. Buenaventura informed me, as then BSP General Counsel, that the Bangko Sentral may have to initiate a proposal for Congress to pass an anti-money laundering law for the Philippines to avoid being blacklisted by the Financial Action Task Force or FATF.



08.17.17

Income Tax drawing up fresh list of penny stocks suspected of money laundering

The Income Tax department is preparing one more list of penny stocks based on the findings of an earlier probe into market operators who facilitate money laundering/tax evasion through listed companies.



08.17.17

Crime fighters urged to step up fight against organised gangs behind multi-billion dollar wildlife trade

When a Thai smuggler was arrested in 2014 carrying 5 million baht ($190,000) in cash he was allegedly on his way to buy protected rosewood from a forest near Bangkok.



08.17.17

Global RADAR announces the launch of its latest innovative solution for companies in the financial services space

Global RADAR announces the launch of its latest innovative solution for companies in the financial services space. This solution will add much needed relief to the rigors of regulatory compliance related to Know Your Customer (KYC) while improving the customer experience.



08.17.17

How to prepare for the future of forex

Regulatory hurdles and technological advancements may mean the forex market is more competitive than ever, but with the right partner in place, the opportunities for something spectacular remain



08.16.17

SEC Charges KPMG with Audit Failures

The Securities and Exchange Commission today announced that KPMG has agreed to pay more than $6.2 million to settle charges that it failed to properly audit the financial statements of an oil and gas company, resulting in investors being misinformed about the energy company’s value. KPMG’s engagement partner in charge of the audit also agreed to settle charges against him.



08.16.17

Gov’t ramps up anti-money laundering efforts

THE GOVERNMENT has approved funds to train frontline enforcement personnel in an effort to fortify the Turks and Caicos Islands against money laundering risks and combat terrorist financing.



08.16.17

Belgium raises concerns over terrorist financing as study reveals it is the most lenient EU country on money laundering

Belgium's anti-money laundering (AML) measures have been called into question today, as new research from transaction screening platform Fortytwo Data reveals the country is the most lenient European Union state towards those found guilty of the crime.



08.16.17

Jerusalem Post Israel News ISRAELI BILLIONAIRE ARRESTED IN INT’L MONEY LAUNDERING PROBE

Israeli billionaire Beny Steinmetz and acting Bezeq CEO David Granot were among five individuals detained by police Monday morning in an international money laundering investigation centering around Steinmetz, a diamond and real estate magnate.



08.16.17

New EU anti money laundering directive, law to be passed after summer recess

The Finance Ministry has committed itself to passing the fourth EU anti money laundering (AML) directive through Parliament after the summer recess.



08.15.17

There's no point in new anti-corruption laws if there's no criminal sanction

The Government has announced new plans to introduce more punitive anti-corruption legislation. Separately, however, the Law Reform Commission is also considering calling for the introduction of Deferred Prosecution Agreements (DPAs), which would obviate the need for criminal trials altogether.



08.15.17

Banks’ future lies outside comfort zone

Today, as Pakistan turns 70, banks realise that in order to grow and prosper they need to help build a new economy. Over the years, they have learnt to weather political storms smoothly. It is evident in the current, dramatically changing political situation.



08.15.17

Florida Resident Sentenced to Prison for Stolen Identity Refund Fraud Scheme

A Miami-Dade County, Florida resident was sentenced to 70 months in prison for his role in a stolen identity refund fraud scheme, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and Acting U.S. Attorney Benjamin G. Greenberg for the Southern District of Florida.



08.15.17

Owings Mills Man Gets 4 Years For Money Laundering Through Internet Dating Scam

An Owings Mills man was convicted for money laundering conspiracy, defrauding vulnerable victims out of millions of dollars. U.S. District Judge Paul W. Grimm also ordered Olufemi Wilfred Williams to pay restitution of over $375,000.



08.15.17

Reserve Bank raises money-laundering questions over ATMs

The Reserve Bank has questioned New Zealand's banks over the use of smart ATMs and the level of cash deposits they allow in the wake of the money-laundering scandal surrounding Australia's Commonwealth Bank.