News and Articles

Understanding Trade-Based Money Laundering (TBML): Techniques, Case Study, Red Flags and Best Practices for Risk Mitigation

Trade-Based Money Laundering (TBML) is one of the most prevalent money laundering methods encountered by professional firms in the Designated Non-Financial Businesses and Professions (DNFBP) sectors. This method primarily involves exploiting the vast volume of global trade and the complexities...

AML/CFT Regulations in Malaysia: Unpacking the Differences Between SSM and BNM Regulations

Both the Companies Commission of Malaysia (SSM) and Bank Negara Malaysia (BNM) play pivotal roles in Malaysia’s Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) efforts. While they share the common goal of combating financial crimes, their regulatory frameworks differ...

Lessons from the Singapore’s S$3 Billion Fujian Gang Money Laundering Case: A Wake-Up Call for Corporate Service Providers

In 2023, Singaporean authorities uncovered a scheme that allegedly facilitated the money laundering of billions of dollars through various businesses, including gambling and online gaming platforms. The operation was characterized by its sophisticated methods, utilizing shell companies and complex financial...

Navigating the New AML Compliance Requirements for Designated Non-Financial Businesses and Professions (DNFBPs) in Malaysia

Staying abreast of financial regulations is crucial for Designated Non-Financial Businesses and Professions (DNFBPs). On February 5th, 2024, Bank Negara Malaysia updated the policy document on Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions (AML/CFT/CPF/TFS)...

New CSP Bill in Singapore: Strengthening Governance and Compliance for Corporate Service Providers

Singapore has long been a hub for international business, known for its transparency, efficiency, and robust regulatory framework. In a bid to further enhance corporate governance and compliance, the Accounting and Corporate Regulatory Authority (ACRA) has introduced a new Corporate...

The Hidden Risks: How Warehouses Can Be Exploited for Money Laundering and Illicit Activities and Risk Mitigation Measures

Licensed warehouse operators play a critical role in global supply chains, facilitating the storage and movement of goods. However, this essential function also makes them attractive targets for criminals seeking to launder money or engage in illicit activities. Understanding these...