Applying AI to the war on financial crime

Technology is useful in identifying complex money laundering schemes, for mining big data sets for terrorism financing activity, and it is irreplaceable for criminal cases involving cryptocurrencies. ComplyAdvantage automates the scanning of hundreds of...

Australia ‘economically vulnerable’ to ML

The “Lucky Laundry,” a new book from international financial crime expert Nathan Lynch, opens with a Vietnamese money launderer murder in Sydney and ends with an impromptu party on a Saigon street. Lynch examines Australia’s role as a “major...

HKMA fines Cathay United Bank over AML rules

The control deficiencies identified in the investigation relate to conducting on-going CDD and EDD in respect of high risk situations during the period between April 2012 and February 2016. CUBHK failed to establish and maintain effective procedures for carrying out...

G7 agreement on a price cap on Russian oil exports

The agreement broadens the agreed ban to the entire G7, enabling the continued sale of Russian oil on global markets at low prices. The G7 will now work to establish a broad global coalition to finalise the design and level of the price cap and to implement it...