Wednesday 20 September 2017
 
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money laundering

Ithmaar Bank staff attend anti-money laundering course

Ithmaar Bank, a Bahrain-based Islamic retail bank, recently organised a specialised training programme for employees involved in trade finance activities. The focused programme was arranged by the Ithmaar Bank Compliance and Anti-Money

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RegTech spend to rise as geopolitical risks heighten

A large majority (75 per cent) of anti-money laundering (AML) professionals believe the current geopolitical landscape presents new risks and challenges for preventing financial crime at their organisations, according to a joint survey by SWIFT

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Seychelles to set up offshore firms registry

Seychelles will legislate this year for a central registry to record ownership of offshore companies, a move to meet new international standards that seek to counter money laundering, the finance minister said. In Seychelles, as i

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UAE cbank, ADGM ink anti-money laundering tie-up

The Central Bank of the UAE and the Abu Dhabi Global Market (ADGM) have signed an agreement to cooperate on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) and related matters. Both parties are committed t

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Saudi bourse tightens rules to curb money laundering

Saudi Arabia's market regulator has further tightened its restrictions on anonymous investors trading shares through brokers, citing the need to prevent money laundering and financing of militant groups. The Capital Market Aut

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Saudi probes man charged with money laundering

A Saudi Arabian court has ordered a probe find out whether a man, accused of money laundering SR2 billion ($532 million), has other accounts and property in the UAE, India and China, a report said. The Saudi man, in his 30s, shoul

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Deutsche Bank probing $6bn transactions

Deutsche Bank AG is looking into possible money laundering by its clients in Russia involving about $6 billion of transactions over four years, Bloomberg reported yesterday, citing people familiar with the matter. The report came

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Dubai Police in new drive to combat money laundering

Dubai Police said it has partnered with Foreign Exchange and Remittance Group (FERG) in a first-of-its-kind social initiative to stamp out money remittance crimes. As a first step an exclusive joint training session was held in th

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SWIFT extends sanctions screening service

SWIFT, a portfolio of financial crime compliance services, has extended its sanctions screening service to support all messages used in financial transactions, regardless of format or financial network. Users can now screen all tr

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StanChart readies to close thousands of UAE accounts

Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement. &quo

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