Money Laundering Bulletin

After a six-year battle with the UK National Crime Agency, the wife of Jahangir Hajiyev, former chair of the International Bank of Azerbaijan, has agreed to forfeit a Knightsbridge house, worth around UK£14 million (US$18 million), and a golf club in Ascot.

The Hong Kong branch of AIA International Ltd, Asia's largest life insurance group, is to pay a HK$23 million (US$3 million) penalty after the Insurance Authority (IA) in Hong Kong found the company's screening processes had not always identified politically exposed persons (PEPs) in the period March 2016 to October 2022.