AML / KYC

AML / KYC

Hong Kong is Moving to a Robust Regulatory Framework for Crypto

By Etelka Bogardi | 19/04/2022

Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.

AML / KYC

APAC Banks Need to Increase Vigilance to TBML Risks

By Editors | 19/04/2022

Panellists at a recent Regulation Asia webinar discussed the need for greater vigilance to TBML risks and how workflow enhancements can improve outcomes.

AML / KYC

US Treasury Sanctions Lazarus Entities Over ‘Ronin Bridge’ Hack

By Editors | 19/04/2022

OFAC has added a list of entities associated with Lazarus to its sanctions list, including a specific Ethereum wallet address associated with the attackers.

AML / KYC

CNOOC to Exit Western Markets Over Sanctions Risk, Red Tape

By Editors | 18/04/2022

“We cannot predict if the company or its affiliates and partners will be affected by US sanctions in future,” CNOOC said after reviewing its global portfolio ahead of a Shanghai IPO.

AML / KYC

NY Court Acquits Two Philippine Casinos in Bangladesh Bank Case

By Editors | 18/04/2022

Bangladesh Bank says the court did not dismiss the entire case concerning its 2016 hack; only two of the 20 accused were acquitted due to “lack of jurisdiction”.

AML / KYC

AIST Seeks Clarity on SoF, SoW Expectations for Super Funds

By Editors | 18/04/2022

AIST is asking AUSTRAC to recognise that super funds are presented with lower risks than other reporting entities, and to align its expectations for SoF and SoW checks accordingly.

AML / KYC

HKMA Asks Banks to Help Reactivate Dormant Mainland Accounts

By Editors | 18/04/2022

Hong Kong customers are facing difficulties reactivating their Mainland accounts due to travel restrictions preventing them from visiting the banks’ branches in person.

AML / KYC

FinCEN Issues Guidance on Detecting Foreign Public Corruption

By Editors | 17/04/2022

The advisory offers indicators to help FIs in preventing, detecting, and reporting suspicious transactions associated with kleptocracy and foreign public corruption.

Fintech / Regtech

China: Industry Bodies Warn of NFT-related Financial Risks

By Editors | 17/04/2022

China’s internet finance, banking and securities associations have outlined six measures to curb “NFT financialisation and securitisation” and prevent NFT-related illegal activity.