AML / KYC

AML / KYC

HKMA Fines Local Branch of CA Indosuez for AMLO Breaches

By Sanday Chongo Kabange | 30/11/2023

The HKMA fined CA Indosuez’s Hong Kong branch for failing to continuously monitor business relationships with some clients.

Big Picture

APG Report Calls for Stronger AML/CFT Response to Illegal Fishing

By Manesh Samtani | 30/11/2023

Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.

AML / KYC

MAS Spotlights Interest Rate and Money Laundering Risks

By Editors | 29/11/2023

The latest Financial Stability Review discusses the impact of rising global interest rates on households and increased concerns over money laundering.

AML / KYC

HKMA Launches New Service to Alert FPS Users of Potential Fraud

By Sanday Chongo Kabange | 29/11/2023

The new alert mechanism will alert banking customers when an FPS proxy ID is flagged as “High Risk” on the Scameter search engine.

AML / KYC

Singapore Banks to Roll Out “Money-locking” Anti-Scam Measure

By Editors | 28/11/2023

‘Locked up’ funds will remain safe, even if the customer’s mobile devices or bank account login credentials fall into the wrong hands.

AML / KYC

Taiwan Banks Blocked TWD 5.5 billion in Fraud in 2023

By Mark Johnston | 28/11/2023

CTBC Bank, Cathay United Bank and Chunghwa Post each blocked more than 1,100 fraud attempts from Q1 to Q3.

AML / KYC

13 FIUs Establish Task Force to Disrupt Terrorist Financing

By Editors | 28/11/2023

The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

AML / KYC

India’s IFSCA Proposes Accredited Investor Framework for GIFT City

By Ajoy K Das | 28/11/2023

Minimum investment thresholds applicable to venture capital schemes, restricted schemes, and portfolio management services would not apply to accredited investors.

AML / KYC

HK Police, Banks Inaugurate New “Anti-Deception Alliance”

By Editors | 27/11/2023

Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.