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NEWS: Singapore launches ‘first’ P2P platform allowing banks to share AML suspicions with each other

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COSMIC: Singapore's regulator, MAS said the digital platform "will allow participant FIs to share information on potential criminal behaviour while safeguarding the interests of the vast majority of customers who are legitimate."

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LATEST: Search for AMLA chair to begin September when powerful new job is advertised

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NEWS: Seven arrested in money laundering probe involving King Gaming on Isle of Man

AML COMMUNITY: Danske’s Milda Olencevičiūtė inspires with her Monday morning social post

By AML Intelligence Correspondent SINGAPORE on Monday officially launched its Private to Private (P2P) platform for banks to share money laundering suspicions. The platform, known as COSMIC (Collaborative Sharing of Money Laundering /TF Information & Cases) is the first centralised digital AML/CFT platform to facilitate sharing of customer information among financial institutions (FIs). The banks…

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Premium

LATEST: Search for AMLA chair to begin September when powerful new job is advertised

 Premium

NEWS: Seven arrested in money laundering probe involving King Gaming on Isle of Man

AML COMMUNITY: Danske’s Milda Olencevičiūtė inspires with her Monday morning social post

Regulatory Watch News

  • April 29, 2024 – FINTRAC advisory: Financial transactions related to countries identified by the Financial Action Task Force

    Fintrac

    High-risk jurisdictions subject to a call for action

    The statement on high-risk jurisdictions subject to a call for action identifies jurisdictions for which the FATF has called on its members to either apply countermeasures (Democratic People's Republic of Korea (DPRK), Iran) or enhanced due diligence measures proportionate to the risks arising from the jurisdiction (Myanmar).

  • FinCEN to Host Webinar on Beneficial Ownership Information Reporting Requirements

    FinCEN

    The Corporate Transparency Act requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative for a virtual information session on beneficial ownership information reporting requirements and how to comply with the law. WHAT: Webinar on beneficial ownership information reporting requirements WHEN: Tuesday, April 30, 2 p.m. ET WHERE: www.youtube.com/@fincentreasury

  • Financial sanctions update: ISIL (Da’esh) and Al-Qaida

    OFSI

    On 29 April 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. Enacting the UN’s decision to amend this entry on 25 April 2024, the following entry has been amended under the ISIL (Da’esh) and Al-Qaida financial sanctions regime and remains subject to an asset freeze:

    • Sanaullah Ghafari (Group ID: 14169)

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