Anti-Financial Crime & Financial Crime Compliance
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Tag: Bribery

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    • Regulatory Watch News

    • Singapore’s measures to counter money laundering, terrorist financing and proliferation financing

      FATF

      The Financial Action Task Force (FATF) and Asia/Pacific Group on Money Laundering (APG) mutual evaluation of Singapore assessed the effectiveness of the country’s anti-money laundering, countering terrorist financing and proliferation financing (AML/CFT/CPF) measures, and their level of compliance with the FATF Recommendations, at the time of an on-site visit in July 2025. The assessment found that Singapore’s financial crime challenges are being met by a competent and coordinated regime that is willing to try new solutions to meet illicit finance challenges of today. There have been some successes in Singapore’s fight against financial crime, but their AML/CFT/CPF system must be sharper in producing demonstrable and consistent risk-based results.

    • AUSTRAC steps up supervision of virtual assets sector as reforms take effect

      Austrac

      AUSTRAC has launched two targeted supervisory campaigns into Australia’s virtual assets sector, as landmark Australian anti-money laundering reforms reshape how virtual asset businesses are regulated. AUSTRAC’s campaigns focus on virtual asset service providers (VASPs), previously known as digital currency exchanges (DCEs), offering over-the-counter crypto to cash (or vice versa) services, and local exchanges operating in Australia. AUSTRAC Chief Executive Officer Brendan Thomas said the supervisory campaigns reflect the risk profile of the sector and AUSTRAC’s regulatory priorities.

    • Economic Fury Targets Iraqi Oil Official, Iran-Backed Terrorist Militias in Iraq

      OFAC

      WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) increased economic pressure on Iran and its proxy militias in Iraq by designating individuals and businesses exploiting Iraq’s oil sector and undermining the country’s security.  This action includes Ali Maarij Al-Bahadly,Iraq’s Deputy Minister of Oil, who abuses his position to facilitate the diversion of oil to be sold for the benefit of the Iranian regime and its proxy militias in Iraq.  OFAC is also designating three senior leaders of Iran-aligned terrorist militias Kata’ib Sayyid Al-Shuhada and Asa’ib Ahl Al-Haq.  The United States will continue to hold these groups and other Iran-aligned terrorist militias in Iraq, such as Kata’ib Hizballah, accountable for their attacks against U.S. personnel and civilians, diplomatic facilities, and businesses across Iraq, which the groups conduct without regard for Iraq’s sovereignty or democratic process.

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