Enforcement

    AML / KYC

    HKMA Targets Effectiveness in Addressing AML, Fraud risk

    By Manesh Samtani | 22/07/2021

    HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.

    Enforcement

    Singapore Man Admits to Laundering Money in SkillsFuture Scam

    By Ranamita Chakraborty | 20/07/2021

    A former Grab and Uber driver has admitted to playing the role of a “dummy director” of several shell companies involved in the SkillsFuture scam.

    AML / KYC

    SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches

    By Editors | 20/07/2021

    Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.

    AML / KYC

    HK Customs Arrests Four for Laundering Funds Using Tether

    By Sanday Chongo Kabange | 19/07/2021

    The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.

    AML / KYC

    BOT Warns Against Using Crypto As Means of Payment

    By Sanday Chongo Kabange | 18/07/2021

    If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

    AML / KYC

    SFC Issues Warning on Unregulated Virtual Asset Platforms

    By Editors | 18/07/2021

    Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

    AML / KYC

    US Government Warns Of Rising Business Risk in Hong Kong

    By Editors | 18/07/2021

    A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

    Enforcement

    CBIRC Sichuan Official Placed Under Corruption Probe

    By Editors | 17/07/2021

    Li Guorong, the deputy head of the Sichuan bureau of the CBIRC, is being investigated for alleged corruption.

    AML / KYC

    Bangladesh Brokerage Owners Accused of Embezzlement

    By Editors | 17/07/2021

    The BSEC has initiated an inquiry into Banco Securities, which has already had its trading suspended and bank account frozen amid embezzlement allegations.

    Enforcement

    Hong Kong Stock Exchange Issues Revised Enforcement Policy

    By Matt Emsley | 16/07/2021

    Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.

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