AML / KYC

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    Capital / Liquidity

    G7 Leaders Pledge to Maintain Resilience of Global Financial System

    By Editors | 15/05/2023

    The G7 communique vows stepped-up sanctions enforcement, and readiness to act on financial stability, climate change, and crypto-asset activities.

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    AML / KYC

    US SEC Fines Philips for Corrupt Practices in China

    By Editors | 14/05/2023

    Dutch medical supplier engaged in “improper” conduct and bidding practices to sell its medical technology products in China.

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    AML / KYC

    Philippine AMLC Issues New Sanctions Screening Guidance

    By Editors | 13/05/2023

    An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.

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    Enforcement

    HK Court Orders Confiscation of HK$63m from Bribery Case

    By Mark Johnston | 12/05/2023

    The investor bribed a former Deutsche Bank director to obtain insider information to help him trade derivative warrants.

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    AML / KYC

    India Brings Company Formation Agents into Scope of AML Law

    By Sanday Chongo Kabange | 11/05/2023

    Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.

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    AML / KYC

    Australia Budget Offers Funding for AML, Scams, Cyber

    By Manesh Samtani | 10/05/2023

    Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.

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    AML / KYC

    MAS to Consult on Scam Loss Sharing Framework in Q3

    By Manesh Samtani | 09/05/2023

    Senior Minister Tharman Shanmugaratnam said the framework will include obligations for telcos, not just FIs and consumers.

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    AML / KYC

    HK Police Launch Advisory Panel to Help Combat Cybercrime

    By Editors | 09/05/2023

    The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.

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    AML / KYC

    Singapore Passes Bill to Enable Data Sharing via COSMIC

    By Editors | 09/05/2023

    COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.

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    AML / KYC

    HKMA Calls for Broader Adoption of Network Analytics by Banks

    By Manesh Samtani | 09/05/2023

    Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.

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