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Asia Pacific AML - Latest News [Page 1]

New Zealand’s History Reveals Wilful Blindness To Political Corruption And Organised Crime

Wednesday, 6 December 2023, 12:17 pm | Asia Pacific AML

Asia Pacific AML – Written By Kerry Grass* Since 2010, I Have Been Operating As An Anti-money Laundering Consultant. In This Role, I Enjoy Reporting On The Principles Of Anti-corruption And Anti-bribery Laws. Being A Citizen Of New Zealand, I Follow ... More >>

DIA Warns Against Generic Risk Templates

Thursday, 27 October 2022, 6:20 pm | Asia Pacific AML

On 20 October 2022, the Department of Internal Affairs (an Anti-Money Laundering Supervisor for lawyers, real estate agents and accountants) provided the following warning – "many reporting entities continue to adopt a generic template without ... More >>

Why Are Lawyers Captured Under Anti-Money Laundering Compliance Laws?

Tuesday, 18 October 2022, 11:46 am | Asia Pacific AML

The constructive process of the money laundering cycle is commonly referred to as having three stages known as (1) Placement, (2) Layering and (3) Integration. Placement refers to the movement of the original dirty proceeds into the economic market. Layering, ... More >>

Anti-Money Laundering Risk Assessments – New Zealand

Monday, 17 October 2022, 11:10 am | Asia Pacific AML

The Cost of Non-Compliance The AML business risk assessment is considered to be the core pillar of an AML/CFT Programme. If the AML risk assessment is ineffective, the entire AML/CFT compliance framework is compromised. Due to the importance of ... More >>

AML Transaction Monitoring Essentials

Tuesday, 11 October 2022, 6:16 pm | Asia Pacific AML

Anti-money laundering compliance requires the detection of unusual customer activity. This article discusses what this means in practice. Activity Analysis Without the ability to detect when a client's activity is unusual or suspicious, a business will ... More >>

Measuring Money Laundering Risks Across A Business

Friday, 7 October 2022, 10:42 am | Asia Pacific AML

A written risk assessment is the starting point for development of a compliance framework designed to combat money laundering and financing of terrorism. The anti-money laundering (AML) business risk assessment seems to cause many businesses to operate ... More >>

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 >>





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