Asia Pacific AML - Latest News [Page 1]

New Zealand – A Country Complacent To Organised Crime

Thursday, 8 October 2020, 11:40 am | Asia Pacific AML

AsiaPacificAML – Kerry Grass, Founder, AML360 New Zealand has no Anti-Corruption Agency An Anti-Corruption Agency has the remit to be - ‘ specialised in fighting political corruption and engaging in general anti-corruption activities. ’ ( Wikipedia ... More >>

New Zealand Needs An Anti-Corruption Agency – URGENTLY

Friday, 2 October 2020, 1:50 pm | Asia Pacific AML

The recent fiasco of New Zealand’s Serious Fraud Office distributing a press release linked to a political party just 1-day before the election process commencing, is a political bias, claims the Deputy Prime Minister (see story below). The Deputy ... More >>

New Zealand – Land Of The Long Sweeping Carpet

Friday, 2 October 2020, 5:28 am | Asia Pacific AML

Is New Zealand witnessing a transparent political interference by an ‘independent’ government department. Let’s talk about the Elephant in the room or at least the Elephant squarely planted in New Zealand’s parliamentary election process. On 17 ... More >>

Judith Collins – A ‘Politically Exposed Person’

Tuesday, 11 August 2020, 1:08 pm | Asia Pacific AML

Under New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act), businesses must consider risk profiling of their customers and clients. The profiling is for the purpose of identifying those clients that present ... More >>

Supervising anti-money laundering compliance laws

Monday, 20 April 2020, 11:41 am | Asia Pacific AML

Under anti-money laundering compliance laws, governments across the globe supervise their financial services industries to ensure businesses uphold laws designed to obligate the identification and reporting of their clients’ suspicious transactions. ... More >>

Governments And Businesses Must Be Able To Continually Manage Financial Crime Risks

Friday, 20 March 2020, 6:50 pm | Asia Pacific AML

Published by: Asia-Pacific AML , Friday 20 March 2020 As financial institutions strain to operate under limited resources, a global crisis presents new opportunities for criminals who seek to exploit weakened financial systems. Essential anti-money ... More >>

AML360 expands into RegTech outsourcing

Wednesday, 29 January 2020, 9:33 am | Asia Pacific AML

AML360, a RegTech start-up, is expanding its SE Asia presence, with third-party outsourcing being one of its key services. More >>

The Context Of Money Laundering Compliance Costs

Thursday, 7 November 2019, 3:39 pm | Asia Pacific AML

When a business is obligated by law to ensure they are operating to compliance regulations, it is important for those businesses to understand the context of each obligation. Without doing so business owners can resent the costs and seek short cut approaches ... More >>

Lawyers, Accountants, Estate Agents and Suspicious Activity

Thursday, 23 May 2019, 2:00 pm | Asia Pacific AML

Suspicious activity reports (SAR’s) are a key source of information which the New Zealand Financial Intelligence Unit (FIU) use to enhance the detection of criminal offences through a transaction, a service, or series of transactions and/or services. ... More >>

The Anti-Money Laundering Compliance Journey

Friday, 10 May 2019, 10:26 am | Asia Pacific AML

There is indication it has not been an easy journey to date for AML reporting entities in New Zealand, especially those included in the Phase 2 of the Anti-Money Laundering and Counter Terrorism Financing [AML/CFT] Act 2009. Their ability to appreciate, ... More >>

Are AML/CFT obligations being taken seriously?

Wednesday, 8 May 2019, 10:46 am | Asia Pacific AML

Notwithstanding the best efforts by banks, financial institutions, and gate keepers (or those professions considered capable of providing authenticity to activities that hide money laundering and terrorism financing), the ability to conduct money ... More >>

Technology enhanced AML/CFT compliance

Wednesday, 1 May 2019, 8:54 am | Asia Pacific AML

Enhancements in technology have compelled meaningful change to personal and business activities. With increased access to mobile technology , through to the prominence of driverless vehicles , technology is influencing the way we manage our relationships, ... More >>

SupTech – An AML/CFT regulatory authorities’ greatest tool

Friday, 26 April 2019, 9:54 am | Asia Pacific AML

Technological and scientific progress in the areas of machine learning , artificial intelligence (AI), distributed ledgers, and big data has led to further discussion around the term SupTech – or supervisory technology. Although technology solutions ... More >>

RegTech: an AML/CFT compliance perspective

Thursday, 18 April 2019, 3:31 pm | Asia Pacific AML

Even to an outsider, the term ‘RegTech’ is gaining noteworthy exposure and momentum throughout the compliance industry. Government regulators responsible for monitoring and enforcement have increased their interest in the FinTech/RegTech industries. ... More >>

AML/CFT compliance & RegTech

Wednesday, 10 April 2019, 9:54 am | Asia Pacific AML

RegTech is recognised as the use of technology to reduce the time and costs for meeting compliance obligations with legislative requirements. RegTech includes automation and enhancement of manual processes, reducing human resourcing commitments, and as ... More >>

Money laundering and countering financing of terrorism

Thursday, 4 April 2019, 10:15 am | Asia Pacific AML

Money laundering and countering financing of terrorism report highlights concerns, sets out future focus More >>

Violent Video Games create Terrorists

Monday, 18 March 2019, 9:09 am | Asia Pacific AML

Research has shown that video games desensitise humans. In 2016 a study was undertaken with a group of university students who were split into groups of video game players. One group played violent games and another group playing non-violent games. More >>

Professionals also have responsibility to Fight Terrorism

Saturday, 16 March 2019, 2:14 pm | Asia Pacific AML

Fighting financial crime and the evil that follows it, such as distribution of illegal substances and gang wars, is not the responsibility of law enforcement alone. Many countries have laws that enforce the requirement for businesses to identify and report ... More >>

Terrorist Attack - New Zealand

Saturday, 16 March 2019, 1:55 pm | Asia Pacific AML

Less than 24 hours ago, New Zealand experienced its largest terrorist attack. At approximately 2.30 pm (NZT) on Friday 15th March 2019, an Australian born white supremist took a stash of guns to two mosques located in Christchurch, New Zealand. More >>

The disparities of AML/CFT compliance obligations in NZ

Friday, 1 March 2019, 9:44 am | Asia Pacific AML

The disparities between the ‘reason for’ and the ‘implementation of’ AML/CFT compliance obligations in New Zealand More >>