A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.
PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.
The syndicate is said to have conned 10 local victims out of HKD 20 million and another seven out of HKD 1.5 million in Macau.
HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.
The Treasury has sanctioned 22 more individuals connected to Myanmar's military, while the Department of Commerce added four companies to its Entity List.
Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.
Westpac is said to have provided lease financing to customers only to later discover that it had lent money against office equipment that may not have existed.
An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.
The processing and approval of suspicious third party fund transfers were attributable to the CEO's failures to discharge his duties, the SFC said.
Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.
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