In the effort of guarding against trade-based money laundering and other illicit crimes within the financial industry, two papers have been published in Singapore by the Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP). These papers establish… Read more >
On March 19th, the Monetary Authority of Singapore (MAS) fined the Standard Chartered Bank branch in Singapore (SCBS) S$5.2 million and the Standard Chartered Trust Limited (SCTS) S$1.2 million for violating its anti-money laundering (AML) and counter terrorism financing (CFT)… Read more >
Singapore-based company, TransTel, wholly owned by a technology company named CSE Global Limited, was recently fined $12,027,066 by OFAC (the U.S. Treasury Department’s Office of Foreign Assets Control) for violating trade sanctions against Iran. In 2010 and 2011, TransTel signed… Read more >
The International Anti-Corruption Coordination Centre (IACCC) will be launching a multinational effort to combat grand corruption which can include bribery of public officials, embezzlement, abuse of power and money laundering of profit from illegal activity. At the time of the… Read more >