Enforcement

AML / KYC

HKMA Fines ePaylinks Technology for AML/CTF Breaches

By Editors | 20/12/2021

SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.

Enforcement

Taiwan FSC to Raise Fines for Securities Investment Trust Businesses

By Editors | 20/12/2021

The maximum fine for violations by securities investment trust and securities investment consulting businesses will rise from TWD 3mn to TWD 15mn.

Enforcement

Japan SESC Recommends Fine for Insider Trading on Crypto Hack

By Editors | 20/12/2021

An individual who learned about the July 2019 theft of cryptocurrency from BITPoint Japan sold shares in its parent before the hack was publicly disclosed.

AML / KYC

FCA Fines HSBC Over ‘Prolonged’ AML Deficiencies

By Manesh Samtani | 19/12/2021

Three key parts of HSBC’s automated transaction monitoring systems showed “serious weaknesses” between March 2010 to March 2018.

AML / KYC

SFC Fines Mason Securities for AML Breaches

By Editors | 17/12/2021

In deciding the disciplinary sanction, the SFC took into account the “extensive period of time” over which the failures occurred.

AML / KYC

Hong Kong, Singapore Authorities Arrest 10 in Joint Operation

By Manesh Samtani | 16/12/2021

Six senior executives of Hong Kong listed companies were among those arrested, for operating a cross-border pump-and-dump manipulation scheme.

AML / KYC

UK Court Convicts, Fines NatWest for AML Failings

By Editors | 15/12/2021

NatWest’s accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

Enforcement

FMA Cancels Financial Advice Provider’s Transitional Licence

By Editors | 15/12/2021

This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.

AML / KYC

US Treasury Targets Human Trafficking in Updated Action Plan

By Mark Johnston | 12/12/2021

Treasury will leverage its AML expertise to augment human trafficking investigations, and develop advisories to alert FIs to potential red flags.