More from Banking, Financial Services & Insurance – Page 14
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NewsDutch turn AML spotlight on second-hand lease car trade
The government and banks in the Netherlands are turning their attention to the second-hand lease car market in their fight against money laundering.
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NewsEC proposes setting up AML agency
The European Commission plans to create an EU authority to fight money laundering, along with new legislation to strengthen anti-money laundering and countering terrorism financing (AML/CFT) rules.
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NewsIsle of Man refreshes AML strategy
The government of the Isle of Man – an important international banking centre – has released an updated policy to combat money laundering and terrorist financing.
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NewsHong Kong authorities break up money laundering gang
Customs officials in Hong Kong say they have dismantled a money laundering group which used cryptocurrency Tether to process HK$1.2bn ($154m, €131m) in illegal funds.
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NewsNew AML bill presented to Liberia’s parliament
Liberia President George Weah has submitted an anti-money laundering bill to the country’s legislature to replace the Anti Money Laundering and Financing Act of 2012.
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NewsNigeria becomes eagle eyed in reporting financial crime
The Economic and Financial Crimes Commission (EFCC) in Nigeria this week launched the Eagle Eye smartphone app to make telling it about economic and financial crimes easier.
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NewsBinance unauthorised, says Italian Regulator
Italy’s financial regulator, CONSOB, announced that Binance is not authorised to provide investment services in the country.
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NewsIranian hackers impersonated academics to commit cyber-espionage
A group of Iranian hackers posing as British-based academics with the aim of targeting individuals in a cyber-espionage campaign has been discovered.
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NewsUK police seize record amount of cryptocurrency in money laundering case
The Metropolitan Police (Met) in the UK have confiscated almost £180m ($250m, €210m) in cryptocurrency as part of an ongoing investigation into international money laundering.
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NewsEx-bank director and minister jailed in Portuguese money laundering case
Armando Vara, a former director of Portugal’s state-owned Caixa Geral de Depositos bank and ex-government minister, has been imprisoned for two years for money laundering. He is already behind bars for a separate offence.
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NewsCanberra chases suspected stimulus package fraudsters
The Australian Taxation Office (ATO) is following up on more than 200 cases of possible cheating of the country’s JobKeeper wage subsidy scheme introduced last year in response to the Covid-19 pandemic.
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NewsOver 170 Android apps involved in crypto mining scams
Over 170 fake Android apps, including 25 apps in the Google Play store, have defrauded more than 93,000 users through crypto mining scams.
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WebinarInstant payments need instant screening
Everyday millions, if not billions, of transactions flow through the financial system. At the same time the consumer and commercial demand for instant payments is increasing, shrinking the transaction processing window.
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NewsBritain risks tsunami of fraud, law makers warned
The UK is facing a greater threat from fraud than during the 2008 financial crisis and government efforts to fight it are falling far short, members of Parliament were told.
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NewsMomentum fined for having inadequate measures against financial crime
South Africa’s Financial Sector Conduct Authority (FSCA) has ordered Momentum Wealth and Momentum Collective Investments to pay ZAR11.1m ($773,000, €654,000) after an inspection found weaknesses in their money laundering and terrorist financing controls.
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NewsSingapore looks to combat online fraud
The Monetary Authority of Singapore is leading a task force with banks and payment companies to find ways to better protect consumers against fraudulent e-payments, said home affairs minister Desmond Tan.
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NewsEC ‘to set up AML body’
The European Commission is said to be proposing establishment of the Anti-Money Laundering Authority (AMLA), plus closer supervision of crypto-assets, in response to calls for tougher action against dirty money.
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NewsBinance aims for regulatory compliance, says CEO
Online cryptocurrency exchange Binance is determined to follow local rules wherever it operates, says CEO and founder Changpeng Zhao.
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NewsPakistan establishes AML/CTF unit
The National Accountability Bureau, Pakistan’s anti-corruption watchdog, has set up an anti-money laundering and terror financing team (AML/CTF) to check financial crimes and illegal transfer of resources.
