AML / KYC

Enforcement

ICAC Secures Guilty Pleas from Ex-StanChart Bankers Who Defrauded Investors

By Sanday Chongo Kabange | 21/12/2023

Two former Standard Chartered relationship managers pleaded guilty to conspiracy to defraud. Three other defendants will stand trial in July 2024.

AML / KYC

NZBA Issues Update on Anti-Scam Initiatives

By Editors | 21/12/2023

The first phase of the new national Anti-Scam Centre is “now live”, focusing on sharing information on money mules.

Enforcement

INTERPOL: $300m in Assets Seized in Latest HAECHI Operation

By Mark Johnston | 20/12/2023

The latest HAECHI operation resulted in nearly 3,500 arrests and the blocking of over 82,000 bank accounts linked to cyber-enabled scams.

AML / KYC

MAS Boosts Due Diligence Checks for SFO Tax Incentive Applicants

By Ranamita Chakraborty | 20/12/2023

To combat money laundering risks, MAS plans to deploy a panel of “specialised firms” to scrutinise individuals and entities associated with SFOs.

AML / KYC

HK ICAC Charges Two in Bribery Case Involving ICBC Unit

By Editors | 20/12/2023

A shipping consultancy director bribed a former executive of ICBC Financial Leasing to secure a consultancy contract for an iron ore shipping project.

AML / KYC

Japan FSA Issues AML/CFT Guidelines for CPAs, Auditors

By Mark Johnston | 19/12/2023

The guidelines require CPAs to verify client identities, keep 7 years of transaction records, provide AML/CFT training to staff, and report suspicious transactions.

AML / KYC

SEBI Simplifies Rules for Obtaining ‘Accredited Investor’ Status

By Ajoy K Das | 19/12/2023

Certain documentary requirements are removed, certification will be granted based solely on KYC and financial information, and the validity period is lengthened.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

AML / KYC

MAS Suspends Non-Bank, Non-Card Channels for China Remittances

By Editors | 19/12/2023

The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.