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
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
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
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
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
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
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
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.
Standard Chartered is aiming to sell part of its business in the UAE after it agreed to close some accounts there in an anti-money laundering settlement with U.S. authorities, two sources familiar with the plan said.
Under the set
A spike in the number of suspicious transactions related to money laundering and terrorism financing has been recorded in Bahrain in the first half of this year, a report said.
When compared with the same period last year, authori