EDITOR'S PICK 7/26

Jun 282 min read

New EU Anti-Money Laundering Agency Framework Comes Into Effect

Today marks the enforcement of the regulation establishing the European Union’s new Anti-Money Laundering Authority (AMLA). Until the end...

1,537 views0 comments

Singapore Faces Heightened Money Laundering Risks, Says PM Lawrence Wong

Flexi Group

Jun 273 min read

Singapore Faces Heightened Money Laundering Risks, Says PM Lawrence Wong

Singapore faces higher money laundering and terrorism financing risks compared to other countries due to its status as an international...

618 views0 comments

Julian Assange Released from British Prison, Expected to Plead Guilty to Violating US Espionage Law

Flexi Group

Jun 263 min read

Julian Assange Released from British Prison, Expected to Plead Guilty to Violating US Espionage Law

Julian Assange, 52, has been released from a British prison and is anticipated to plead guilty to a US espionage charge, facilitating his...

947 views0 comments

Monaco Faces Potential Greylisting by FATF at Upcoming Singapore Plenary

Flexi Group

Jun 252 min read

Monaco Faces Potential Greylisting by FATF at Upcoming Singapore Plenary

The city-state of Monaco is on the brink of being greylisted at the Financial Action Task Force (FATF) plenary set to take place this...

944 views0 comments

EU's AMLA to Regulate Largest Financial Institutions Across Multiple Member States

Flexi Group

Jun 212 min read

EU's AMLA to Regulate Largest Financial Institutions Across Multiple Member States

The establishment of the EU’s Anti-Money Laundering Authority (AMLA) marks a significant shift in the world of anti-money laundering...

1,758 views0 comments

British Virgin Islands ITA Issues New Economic Substance Rules: UAE Removed from No-Tax Jurisdiction List

Flexi Group

Jun 202 min read

British Virgin Islands ITA Issues New Economic Substance Rules: UAE Removed from No-Tax Jurisdiction List

On April 2, the British Virgin Islands’ International Tax Authority (ITA) released Version 4 of its Rules on Economic Substance (ES),...

83 views0 comments

Wolfsberg Group Opposes Mandatory Enhanced Due Diligence for Customers from FATF Grey-Listed Countries

Flexi Group

Jun 192 min read

Wolfsberg Group Opposes Mandatory Enhanced Due Diligence for Customers from FATF Grey-Listed Countries

The Wolfsberg Group has voiced opposition to a proposal that would enforce a mandatory higher level of customer due diligence on...

1,564 views0 comments

Nigeria Drops Tax Evasion Charges Against Binance Executives

Flexi Group

Jun 181 min read

Nigeria Drops Tax Evasion Charges Against Binance Executives

In a significant development on Friday, Nigeria dropped tax evasion charges against two Binance executives following the appointment of a...

680 views0 comments

EU to Implement Comprehensive Anti-Corruption Laws Across Member States

Flexi Group

Jun 172 min read

EU to Implement Comprehensive Anti-Corruption Laws Across Member States

The Council of the EU has announced new legislation introducing a range of anti-corruption offences and penalties to be enforced across...

820 views0 comments

FinCEN Director Andrea Gacki Assures Small Businesses on Beneficial Ownership Reporting Requirements

Flexi Group

Jun 142 min read

FinCEN Director Andrea Gacki Assures Small Businesses on Beneficial Ownership Reporting Requirements

FinCEN (Financial Crimes Enforcement Network) Director Andrea Gacki has reassured small businesses that the new beneficial ownership...

1,371 views0 comments

Hong Kong Police Arrest 175 Suspects in $100 Million Scam Operation

Flexi Group

Jun 132 min read

Hong Kong Police Arrest 175 Suspects in $100 Million Scam Operation

Hong Kong police have apprehended 175 individuals suspected of involvement in various scams that defrauded hundreds of victims out of...

601 views0 comments

Moldova Struggles with Virtual Asset Regulation Despite Improvements in Anti-Terrorism Financing

Flexi Group

Jun 122 min read

Moldova Struggles with Virtual Asset Regulation Despite Improvements in Anti-Terrorism Financing

The Republic of Moldova has made strides in preventing terrorist financing, yet continues to face significant shortcomings in its...

709 views0 comments

TD Bank Faces Potential $4 Billion in Fines Over U.S. AML Failures, Analysts Warn

Flexi Group

Jun 112 min read

TD Bank Faces Potential $4 Billion in Fines Over U.S. AML Failures, Analysts Warn

Analysts have indicated that fines against TD Bank related to a series of anti-money laundering (AML) failures at its U.S. operations...

780 views0 comments

SkyCity to Pay $70 Million in Penalties Following Anti-Money Laundering Failures at Adelaide Casino

Flexi Group

Jun 102 min read

SkyCity to Pay $70 Million in Penalties Following Anti-Money Laundering Failures at Adelaide Casino

SkyCity is set to pay $70 million in penalties and legal costs after a series of anti-money laundering (AML) failures at its Adelaide...

813 views0 comments

Gangs Recruit Australian Money Mules for Up to AUS$500 and Commission, AUSTRAC Warns

Flexi Group

Jun 72 min read

Gangs Recruit Australian Money Mules for Up to AUS$500 and Commission, AUSTRAC Warns

Gangs are offering Australian money mules up to AUS$500 and a commission for the use of their bank accounts, according to the country’s...

1,383 views0 comments

CFO of The Epoch Times Arrested for Allegedly Laundering $67 Million in Stolen Funds

Flexi Group

Jun 62 min read

CFO of The Epoch Times Arrested for Allegedly Laundering $67 Million in Stolen Funds

The Chief Financial Officer of US media group The Epoch Times, Weidong Guan, also known as ‘Bill’ Guan, has been arrested and charged in...

1,133 views0 comments

Former TD Bank Employee Accused of Falsifying Documents and Facilitating Cross-Border Cash Flow

Flexi Group

Jun 52 min read

Former TD Bank Employee Accused of Falsifying Documents and Facilitating Cross-Border Cash Flow

A former TD Bank employee has been accused of falsifying documents to open dozens of accounts and providing concierge-like services to...

799 views0 comments

Investigation Uncovers Money Laundering Risks with Independent ATMs in the Netherlands

Flexi Group

Jun 42 min read

Investigation Uncovers Money Laundering Risks with Independent ATMs in the Netherlands

Independent ATMs not linked to banks are being used for money laundering in the Netherlands, an investigation has revealed. The Dutch...

867 views0 comments

OPAP Sees Revenue Rise Driven by Online Casino and Lottery Growth

Flexi Group

Jun 32 min read

OPAP Sees Revenue Rise Driven by Online Casino and Lottery Growth

OPAP's online casino business propelled its revenue up by 4.2% year-on-year to €549.7m (£467.5m/$593.3m), with the Greek gambling group...

707 views0 comments

Experts Divided on US Adoption of OECD's Pillar Two Legislation

Flexi Group

May 313 min read

Experts Divided on US Adoption of OECD's Pillar Two Legislation

Tax experts remain divided on whether the US will implement legislation for the OECD's pillar two framework. The OECD’s BEPS 2.0 reform...

1,335 views0 comments