AML / KYC

APAC Regulators Form New Anti-Scam Working Group

04/06/2024

ASIC will lead the working group, which also comprises MAS and the FMA. The regulators will share more scam-related information and build up capacity and cooperation.

AML / KYC

Westpac Sues Insurers to Recover Part of 2020 AUSTRAC Fine

04/06/2024

The legal action is aimed at recovering A$400mn that Westpac believes should have been paid out to offset its 2020 AUSTRAC penalty.

AML / KYC

Hong Kong Court Jails Ex-BEA Manager for Bribery Offences

04/06/2024

The former senior relationship manager accepted bribes to help intermediary companies open BEA accounts for their clients.

Market Infrastructure

APRA Identifies Common Gaps in Data Backup Practices

03/06/2024

APRA outlined some common issues and directed regulated entities to review their backup arrangements and address identified gaps promptly.

AML / KYC

APAC FIUs Launches Regional Intelligence Sharing Platform

03/06/2024

The new platform will allow for real-time sharing of information, case studies and technologies among Australasian and ASEAN FIUs.

Market Infrastructure

HKMA Allows WMC Participation by Non-Locally Incorporated AIs

03/06/2024

Non-locally incorporated AIs may provide southbound WMC services through their Hong Kong branches if they meet certain requirements.

ESG / Sustainability

CHKLC to Launch ESG Exam Tailored to HKEX Requirements

31/05/2024

The Chamber of Hong Kong Listed Companies will certify competency to meet HKEX’s requirements on ESG.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Sportsbet

30/05/2024

The undertaking binds the online betting company to an ongoing remedial action plan to improve its AML/CTF programme.

Enforcement

HK Jury Convicts Three in Landmark Manipulation Case

30/05/2024

This was the first time an offence under the SFO has been tried at Hong Kong’s Court of First Instance.