AML / KYC

Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.

Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.

The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.

A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.

CPAs and audit staff are suspected of accepting bribes to compile a false accountants' report that was submitted to HKEX for a main board listing.

A new paper introduces a pre-defined file format for OTCR submissions. Guidance on the new investor identification regime has also been released.

The bill allows targeted sanctions to be imposed to address themes such as gross human rights violations, malicious cyber activity and serious corruption.

The proposed ban is aimed at preventing the misuse of digital assets as a tool to commit crime, the SEC said.

The FSC is increasing the transfer limits for digital deposit accounts opened at bank teller counters to enhance customer convenience.

Mayer Brown's Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021.