AML / KYC

Securities / Derivatives

SEBI Relaxes Additional Disclosure Requirements for FPIs

By Ajoy K Das | 22/03/2024

FPIs with over 50% of their Indian equity AUM in a corporate group will be exempted from the additional disclosures, subject to conditions.

AML / KYC

Australia: Queensland Passes New Law to Curb Money Laundering at Casinos

By Sanday Chongo Kabange | 22/03/2024

Casinos will be restricted from accepting more than a prescribed amount of cash from a person for gambling related transactions in a 24-hour period.

AML / KYC

Top HK Official Addresses Frozen Remittances in Mainland China

By Editors | 21/03/2024

94 of 161 cases of frozen remittances from 2023 have been resolved as a result of the Customs and Excise Department’s intervention and bilateral negotiation.

AML / KYC

UK Gov, Banks Disagree on Suspended Accounts Scheme

By Editors | 21/03/2024

The scheme would allow banks to transfer funds that have been suspended due to criminal suspicions to the government to finance its efforts to crack down on financial crime.

AML / KYC

EU Commission Revises List of High Risk Third Countries

By Nithya Subramanian | 19/03/2024

Barbados, Gibraltar, Panama, Uganda and UAE have been removed from the list, while Kenya and Namibia were added.

AML / KYC

SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

By Sanday Chongo Kabange | 18/03/2024

This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.

AML / KYC

Australia: ACCC Report Shows Scam Losses Are Declining

By Sanday Chongo Kabange | 18/03/2024

Report says scam losses in Q4 2023 almost halved compared to the same quarter in 2022, largely due to a sharp decline in investment scams.

AML / KYC

UK Drafts ‘Debanking’ Law in Wake of NatWest Controversy

By Mark Johnston | 18/03/2024

HM Treasury has proposed legislation that aims to protect consumers from arbitrary financial exclusion based on political views.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.