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AML / KYC
Standard Chartered Fined Over $1bn by US, UK Authorities
By Editors | 10/04/2019
Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.
AML / KYC
HKEX Offers Listing Applicants Guidance on Sanctions Risk
By Stephen Peepels | 26/03/2019
International law firm Hogan Lovells says the HKEX guidance provides significant insight into how it will consider international trade and sanctions issues in the context of IPO transactions.
AML / KYC
BCBS Sets Out Minimum Expectations for Banks Exposed to Crypto
By Editors | 18/03/2019
The minimum prudential expectations for banks exposed to crypto-assets relate to due diligence, governance and risk management, public disclosure and supervisory dialogue.
AML / KYC
Anarchy in the UK’s Sanctions Regime
By Eric A. Sohn | 13/03/2019
In light of the OFSI’s recent fine on Raphaels Bank, Eric Sohn at Dow Jones Risk & Compliance looks at other seemingly outsized penalties, and what they could mean.
AML / KYC
Data Privacy, Cybersecurity, Conduct in Focus in APAC
By Manesh Samtani | 14/02/2019
Data privacy, conduct & culture, cybersecurity and AML will be in focus in APAC for the next three years, according to a new report from Fenergo.
Big Picture
Board, Compliance Engagement Lacking in Technology Adoption
By Manesh Samtani | 07/02/2019
Financial services firms lack engagement from boards and risk and compliance functions, according to a new survey from Thomson Reuters Regulatory Intelligence.
AML / KYC
Wolfsberg Group Publishes New Guidance on Sanctions Screening
By Editors | 29/01/2019
It aims to show where sanctions screening can be an effective part of a wider sanctions compliance programme, where it has limitations, and where a risk based approach is appropriate.
AML / KYC
Human Trafficking and AML: 2019 Could Be a Turning Point for Asian Banks
By Nick Turner | 03/01/2019
Banks will need to adapt existing AML programmes to include new monitoring scenarios and train staff to recognise human trafficking red flags, says Nick Turner at Clifford Chance.
AML / KYC
Hong Kong Not Obliged to Enforce US Sanctions – Report
By Editors | 13/12/2018
Hong Kong is not obliged to enforce unilateral sanctions imposed by individual jurisdictions including the US, a senior official said in regards to Huawei’s alleged dealings with Iran.
AML / KYC
Hong Kong Asked to Bolster Sanctions Enforcement Amid Huawei Dispute
By Manesh Samtani | 11/12/2018
US officials have asked Hong Kong to bolster sanctions enforcement as Huawei’s deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.
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