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NEWS: FATF Secretariat retreat launched in Abu Dhabi

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By PAUL O’DONOGHUE, Senior Correspondent

THE Financial Action Task Force (FATF) Global Network Secretariat Retreat (GNSR), a major AML event, has opened in Abu Dhabi.

The UAE’s National Committee for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism and Illegal Organisations organized the event.

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INSIGHT: German crackdown pushes Dutch ATM bandits towards Austria

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INSIGHT: Why bank fraud defences across the globe are set to collapse in the face of AI swarm

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INSIGHT: Louvre heist – Inside Antwerp’s jewellery underworld

Regulatory Watch News

  • FCA partners with Singapore to drive growth and AI innovation

    Financial Conduct Authority

    The FCA is strengthening its international footprint with a strategic partnership on artificial intelligence (AI) with the Monetary Authority of Singapore (MAS) and will establish a new presence in the country.
    Announced at the Singapore Fintech Festival, the new partnership will support safe and responsible AI innovation. This will enable innovative firms in the UK and Singapore to scale and operate across markets more effectively. For the first time, the FCA will also establish a presence in Singapore with the appointment of an FCA Financial Services Attaché based at the British High Commission. This forms part of a wider plan to establish a presence other priority markets next year.

  • Treasury Sanctions Burma Armed Group and Companies Linked to Organized Crime Targeting Americans

    OFAC

    WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the Democratic Karen Benevolent Army (DKBA), a Burmese armed group, along with four of its senior leaders, for supporting cyber scam centers in Burma that target Americans using fraudulent investment schemes.  OFAC is also designating Trans Asia International Holding Group Thailand Company Limited (Trans Asia), Troth Star Company Limited (Troth Star), and Thai national Chamu Sawang, who are linked to Chinese organized crime and have worked with the DKBA and other armed groups to develop these scam centers.  The revenue generated by scam center workers—who are often themselves victims of human trafficking—supports organized crime and allows the DKBA to finance its harmful activities.

  • Scam alert related to banks

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA.  Hyperlinks to the press releases are available on the HKMA website.  

           Bank        Type of Scam
    The Bank of East Asia, Limited Fraudulent websites and internet banking login screens
    Shanghai Commercial Bank Limited Fraudulent websites and internet banking login screens
    Chong Hing Bank Limited Fraudulent websites and internet banking login screens
    Bank Julius Baer & Co. Ltd. Fraudulent website
     

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