AML / KYC

AML / KYC

20 Year Old Pleads Guilty in OCBC Phishing Scam Case

By Editors | 20/04/2022

The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.

AML / KYC

Hong Kong to Propose Regulatory Regime for Crowdfunding

By Sanday Chongo Kabange | 19/04/2022

The government will issue a consultation this year proposing a licensing or registration requirement for crowdfunding platforms in Hong Kong.

AML / KYC

Countries Must ‘Redouble Efforts’ to Fight Financial Crime: FATF

By Manesh Samtani | 19/04/2022

The FATF finds that countries have made “huge progress” in improving technical compliance, but many still face substantial challenges in taking effective action.

Enforcement

China to Step Up Corruption Crackdown in Capital Markets

By Editors | 19/04/2022

So far this year, nine financial officials were expelled from the CCP, with some facing other disciplinary punishments including criminal prosecution.

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”.