Compliance Practice
Practical guidance for professionals responsible for AML/CFT compliance. This section covers customer due diligence, identity verification, beneficial ownership, risk assessment, enhanced due diligence, screening, ongoing monitoring, suspicious transaction reporting and compliance record keeping.
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FATF Evaluation Sets a Clear Roadmap for Stronger CSP Regulation in Singapore
Singapore achieved a strong outcome in the Financial Action Task Force’s (FATF) 2026 Mutual Evaluation and was placed under Regular Follow-up. This is the most…
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EU Weighs Action Over Beneficial Ownership Register Access
The European Commission may act against member states that have not implemented access rules for beneficial ownership registers.
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FCA Steps Up Scrutiny of Unregulated Lenders
The FCA is increasing scrutiny of unregulated lenders, leasing companies and money brokers over financial crime and market risks.
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AUSTRAC Suspends Cryptolink Registration, Shutting 96 Crypto ATMs for Three Months
AUSTRAC has suspended the virtual asset service provider registration of Cryptolink Pty Ltd for three months, forcing the company’s network of 96 cryptocurrency ATMs across…
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AMLA Surveys Payment Firms on Central Contact Point Rules
AMLA is surveying payment and e-money firms as it prepares to update EU rules governing central contact points.
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Singapore’s MAS to Expand COSMIC Following Positive Results in Combating Financial Crime
Singapore, 5 August 2026 — The Monetary Authority of Singapore (MAS) plans to expand the Collaborative Sharing of Money Laundering/Terrorism Financing Information & Cases (COSMIC)…
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Bank of America Warns of Possible New AML Penalties
Bank of America says it is discussing a resolution with the OCC over deficiencies addressed in a December 2024 AML consent order.
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ABN Amro and Mistral Partner on European AI Solutions
ABN Amro and Mistral have formed a partnership to develop cybersecurity and compliance tools while reducing reliance on non-European technology.
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FinCEN Imposes Record $125 Million BSA Penalty on UBS Financial Services
FinCEN has imposed a $125 million civil money penalty on UBS Financial Services Inc. for willful violations of the Bank Secrecy Act. The penalty is…
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UK Watchdog Warns AI Is Being Used to Bypass Gambling KYC
The UK Gambling Commission says customers are using AI and other methods to evade identity and KYC checks on gambling platforms.
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