by Jyotsna Bucktowar | Jul 3, 2025
Despite self-reporting and efforts to improve, AUSTRAC remains unconvinced that Western Union’s AML/CTF program is effective. CEO Brendan Thomas highlighted the high ML risks in the remittance sector and stressed the importance of strong internal controls. The...
by Jyotsna Bucktowar | Jan 17, 2025
Masterminded by James Parker the scam exploited a loophole in a crypto exchange allowing his associates to withdraw millions before his death in 2021. Authorities have recovered significant assets with the CPS emphasizing its commitment to targeting proceeds of...
by Jyotsna Bucktowar | Dec 14, 2024
Gambling syndicates are offering up to US$400 for personal documents like passports, driver’s licenses, and selfies to create betting accounts under other names raising concerns about identity theft. Experts warn that alias accounts or bowler accounts undermine AML...
by AdrianaAMLP | Dec 12, 2024
This exposure draft of the new Rules covers the following areas: AML/CTF programs; reporting groups (formerly ‘designated business groups’); customer due diligence; travel rule; compliance reports; keep open notices (formerly ‘Chapter 75 notices’); correspondent...
by Jyotsna Bucktowar | Nov 29, 2024
Lawyers, accountants and company service providers will also fall under the expanded remit following the passage of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 through parliament…
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