AML / KYC

AML / KYC

US Sanctions Six More Chinese, Hong Kong Officials

By Editors | 17/01/2021

The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

AML / KYC

SEBI Proposes New Process for KYC in Securities Market

By Editors | 17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

AML / KYC

PBOC Tripled AML Penalties in 2020 Compared to 2019

By Editors | 13/01/2021

Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.

AML / KYC

Australian Police Make Arrest as Part of Foreign Bribery Probe

By Editors | 12/01/2021

The arrest is part of an investigation by UK, US and Australian authorities into the payment of bribes to officials in Iraq and other countries to secure oil contracts.

AML / KYC

Ex-China Development Bank Chairman Sentenced to Life in Prison

By Editors | 11/01/2021

The former chairman of China’s largest policy bank took 85.5mn yuan in bribes to facilitate financing for others including CEFC China Energy and HNA Group.

AML / KYC

Singapore Money Remittance Sector Poses High TF Risk: MAS

By Manesh Samtani | 11/01/2021

Singapore’s money remittance sector poses the highest risk of being exploited for terrorism financing, followed by the banking sector.

AML / KYC

Deutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges

By Editors | 11/01/2021

The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.

AML / KYC

China Issues New Rules to Protect from Foreign Sanctions

By Manesh Samtani | 11/01/2021

Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.

AML / KYC

HK Customs Flags Money Laundering Risk from Money Changers

By Editors | 08/01/2021

Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.