by Argus | Anti Money Laundering, News, Regulatory Compliance
Standard Chartered fined $1.1bn for money-laundering and sanctions breaches The British bank has agreed to pay $947m to American authorities over allegations that it violated sanctions imposed against Burma, Zimbabwe, Cuba, Soudan, Syria and Iran. Separately, it was...
by Argus | Financial Institutions, News, Payment Services Bill, Regulatory Compliance
MAS Releases Consultation Paper on Proposed Payment Services Regulations The Monetary Authority of Singapore (MAS) released yesterday a new consultation paper on payment services regulations, calling for comments from any interested parties such as Financial...
by Argus | Compliance, Financial Institutions, News, Regulatory Compliance
MAS issues Prohibition Orders against three people for fraud The Monetary Authority of Singapore has issued yesterday Prohibition Orders against three individuals for their fraudulent and dishonest conduct while carrying out their duties. Two former bank employees and...
by Argus | Anti Money Laundering, News, Regulatory Compliance
Deutsche Bank’s US Unit involved in money-laundering case Compliance workers for Deutsche Bank AG flagged transaction amounting to $150 billion that their U.S. subsidiary handled for an Estonian unit of Danske Bank A/S. As shown by internal documents, court records...
by Argus | Monthly Newsletter, Regulatory Compliance
Articles & Events Summary Regulations for Money-Changing or Remittance Business in Singapore Money-changing or remittance businesses are licensed and regulated under the Money-Changing and Remittance Businesses Act 1979 (MCRBA). Money-changing involves the buying...
by Argus | Anti Money Laundering, Financial Institutions, News, Regulatory Compliance
New Zealand’s Financial Markets Authority issues AML/CFT monitoring report New Zealand’s FMA (Financial Markets Authority) has published an AML/CFT monitoring report setting out the areas requiring further attention by the management and boards of reporting entities....
