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Money Laundering Related Topics 
PYMNTS
AUGUST 3, 2020
It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported. .” The FT added: “Since then, more than 30 people have been sentenced for mafia-related crimes linked to the case.” ” Wirecard declined to comment for the FT article.
144 
Payments Source
MARCH 10, 2021
Banks need to adjust their money laundering protections to comply with tough new rules in the U.S., says Genpact's Manish Chopra.
160 
Fintech News
JUNE 3, 2024
The Asia-Pacific (APAC) region faces significant challenges in combating money laundering due to its diverse economies, large volume of cross-border trade, and varying levels of regulatory enforcement across different countries — the trends of money laundering in Asia Pacific are constantly evolving.
124 
Finextra
MAY 21, 2024
million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on. German regulator BaFin has fined N26 €9.2
126 
Finextra
MARCH 3, 2024
Paytm's banking business has been fined 55 million rupees (about $663,000) by an Indian regulator on money laundering charges.
128 
Finextra
OCTOBER 10, 2024
TD Bank has agreed to pay $3 billion in penalties after pleading guilty to violating US anti-money laundering federal laws.
116 
Fintech News
OCTOBER 6, 2024
Singapore is enhancing its anti-money laundering (AML) framework with new recommendations from the Inter-Ministerial Committee (IMC). This comes after a review sparked by the high-profile money laundering case in August 2023, in which more than S$3 billion worth of assets were seized.
120 
Fintech News
JULY 17, 2024
A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. The Scale of Crypto Money Laundering The magnitude of crypto-related money laundering is staggering. Usage of mixers peaked in 2022, with over US$1.5 billion of value received in April alone.
107 
Fintech News
MAY 29, 2024
Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. The NRA concludes that, given the existing controls, the risk of criminals using Singapore for environmental crimes money laundering is medium-low.
110 
Finextra
FEBRUARY 22, 2024
Frankfurt has won the race to host the EU's new Anti-Money Laundering Authority (AMLA), beating out competition from eight other cities, including Dublin, Madrid and Paris.
122 
Fintech News
JUNE 23, 2024
Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. Consequently, Singapore is closely monitoring the sector.
107 
Finextra
MAY 1, 2024
Researchers from Elliptic, IBM Watson and MIT have used AI to detect money laundering on the Bitcoin blockchain.
Finextra
JANUARY 26, 2024
The UK’s National Crime Agency (NCA) has issued an amber alert to prevent further money laundering in the art storage sector.
Fintech Finance
FEBRUARY 13, 2025
Mastercard today officially announced the launch of TRACE (Trace Financial Crime) in Asia Pacific, a sophisticated network-level solution that harnesses artificial intelligence to identify and prevent money laundering and financial crime.
The Fintech Times
MARCH 27, 2024
Five people, including convicted fraudster Neale Rothera , were sentenced for their involvement in a fraud and money laundering scheme which cost banks over £500,000 earlier this week. But with the money unrecoverable, how can this type of situation be avoided in the future?
Stax
DECEMBER 4, 2023
According to a UN report, money laundering activities of about $1.6 The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. They need to be given regular training to deal with novel techniques used by money launderers.
Finextra
SEPTEMBER 9, 2024
Klarna Bank has been upbraided by the Swedish Financial Supervisory Authority for failing to adequately deal with money laundering risks.
The Paypers
OCTOBER 25, 2024
Nigeria’s Economic and Financial Crimes Commission ( EFCC ) has dismissed a money-laundering case against Tigran Gambaryan, a senior executive at Binance.
Neopay
MARCH 6, 2025
The allegations involve multiple counts of fraud and money laundering, painting a picture of large-scale financial misconduct within the firm. The allegations In December 2024, the FCA charged John Dance with nine criminal offences, including fraud by abuse of position and money laundering.
Neopay
DECEMBER 2, 2024
Those of you who were in the payments space pre-COVID, might remember my industry talks about ‘Why the World Needs Money Laundering’. A history of money laundering The concept of money laundering goes back to long before money itself existed. Even the 3 stages (placement (i.e. But it seems unlikely.
The Fintech Times
MAY 18, 2024
Crypto exchange, Binance has played a massive part in solving a major crypto-assisted money laundering case in Taiwan involving nearly NT$200million (approximately US$6million). The post Binance Plays Vital Role In Cracking Crypto-Assisted Money Laundering Case in Taiwan appeared first on The Fintech Times.
Bank Automation
OCTOBER 10, 2024
Toronto-Dominion Bank will plead guilty to money-laundering charges, a US Department of Justice prosecutor said in a Newark, New Jersey, courtroom on Thursday. Two of the bank’s US subsidiary units intend to enter guilty pleas, the prosecutor said during a hearing before a US District judge.
Payments Source
SEPTEMBER 11, 2020
The Philippines’ anti-money laundering authority has identified 57 “people of interest,” including foreigners and local bank officers and government officials, whose links to Wirecard AG are being scrutinized.
160 
Bank Automation
OCTOBER 31, 2024
said US regulators may take action against the firm over its efforts to detect suspected money laundering and sanctions violations, as well as its handling of payments on the Zelle network. may take action over money laundering, Zelle appeared first on Bank Automation News. Bank of America Corp.
Fintech News
SEPTEMBER 2, 2024
The move follows the implementation of an AI-driven Cross-Reference File (CRF) system designed to identify mule accounts used in money laundering activities. All commercial banks are now using the data provided by the CRF system and the Anti-Money Laundering Office to take action against those involved.
144 
The Nilson Report
JANUARY 27, 2025
The post US State Regulators Fine Block Inc $80 million for Insufficient Money Laundering Controls appeared first on Nilson Report.
Finextra
FEBRUARY 13, 2025
Mastercard has launched a service in Asia Pacific, called Trace, that uses AI to identify and prevent money laundering and financial crime.
112 
Fintech News
FEBRUARY 4, 2025
The research shows that banks in Singapore are dedicating more time and resources to KYC processes, which are vital for anti-money laundering (AML) compliance, than any other region surveyed.
116 
Finextra
JULY 10, 2024
million for Russia-related sanction violations and money laundering failures. Lithuania has fined crypto outfit Payeer a record EUR9.3
105 105 
Fintech News
AUGUST 1, 2024
This service aims to streamline business due diligence and compliance for financial institutions and SMEs, addressing counter-party risk, credit exposure, and compliance with anti-money laundering (AML) regulations. JewelPaymentech, acquired by ADVANCE.AI Earlier this year, ADVANCE.AI
114 
Payments Dive
AUGUST 29, 2024
Federal Reserve Governor Christopher Waller suspects there could be more fraud and money-laundering if countries move too quickly to link their faster payments systems, he said at a conference.
Fintech News
JUNE 26, 2024
Lawrence Wong Prime Minister and Finance Minister Lawrence Wong announced the strategy at the Financial Action Task Force Plenary Meeting, underscoring Singapore’s commitment to bolstering its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts.
107 
Fintech News
MAY 15, 2024
Enhanced financial integrity controls, such as anti-money laundering measures, are also a focus. This partnership aims to tackle inefficiencies in current payment systems, particularly in cross-border transactions, which face various legal, regulatory, and technical challenges, as well as different operating hours and time zones.
Fintech News
AUGUST 19, 2024
A transnational money laundering syndicate operating in Hong Kong has been dismantled through a collaborative effort between the Singapore Police Force (SPF) , Hong Kong Police Force (HKPF), and INTERPOL. Further investigations recovered an additional HK$1.3 million in criminal proceeds.
116 
Fintech News
MAY 7, 2024
Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.
107 
Fintech News
MARCH 31, 2024
The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform , a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction.
109 
Fintech News
DECEMBER 3, 2024
These include the 2022 SFF Global Fintech Award, 2023 Best Cryptocurrency Payment Company by APAC Insider, 2024 PayTech of the Year and Disruptor of the Year at the Asia Fintech Awards, and a 6th place ranking on Hoptrail’s Global Anti-Money Laundering (AML) Leaderboard.
130 
Finextra
AUGUST 5, 2024
Further, financial institutions must consider wildlife trafficking as organised crime and as the money involved cannot be hidden under the bed - it moves through commercial entities such as airports and shipping ports - this form of money laundering must be mitigated.
105 
Fintech News
DECEMBER 6, 2023
District Court Judge Richard Jones has accepted a guilty plea for money laundering from crypto exchange Binance’s former CEO Changpeng Zhao (CZ). CZ had pleaded guilty to criminal charges for anti-money laundering and violations of U.S. Seattle’s U.S.
106 
The Paypers
FEBRUARY 26, 2024
The Financial Action Task Force (FATF) has announced that it has dropped the UAE from its grey list regarding concerns about financial crime and money laundering.
Fintech News
FEBRUARY 14, 2024
Hawk AI, a Germany-based provider of artificial intelligence technology for fraud detection and anti-money laundering efforts, has announced Robin Lee as the new General Manager for its Asia-Pacific (APAC) operations.
111 
Fintech News
MAY 1, 2024
” Zhao pleaded guilty last November to failing to implement a robust anti-money laundering programme at Binance. billion settlement to resolve charges related to money laundering and sanctions law violations. .” He also noted, “I will remain a passive investor (and holder) in crypto.”
106 
Finextra
DECEMBER 5, 2023
In addition, the country is ditching its largest denomination note, the 1000-krone, citing lack of usage and money laundering concerns. Denmark is withdrawing older banknotes from circulation because few people recognise them and feel confident about receiving them.
The Payments Association
FEBRUARY 22, 2024
There is an increasing need for enhanced data sharing in the payments industry to combat the rising threat of financial crime, specifically money laundering and online-enabled fraud. Read more
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