AML / KYC

AML / KYC

HSBC Suspends Investment Services for Russian Clients in Hong Kong

By Editors | 18/10/2022

HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.

AML / KYC

Hong Kong Seeks Status as Global Hub for Virtual Assets

By Manesh Samtani | 17/10/2022

A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

AML / KYC

FCA Fines UK Challenger Bank for Weak AML Controls

By Editors | 17/10/2022

Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

AML / KYC

Thailand Creates Working Group to Tackle Social Media Scams

By Editors | 16/10/2022

Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.

AML / KYC

Singapore: SMS Sender ID Registration to Become Mandatory

By Editors | 15/10/2022

All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.

AML / KYC

Glencore Facing Investor Lawsuits Following Bribery Conviction

By Editors | 14/10/2022

Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.

AML / KYC

Switzerland to Commence Work on Creating UBO Register

By Editors | 14/10/2022

A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.

AML / KYC

US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions

By Editors | 14/10/2022

Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.

Enforcement

China to Prosecute Former China Merchants Bank President

By Editors | 12/10/2022

The former president was abruptly removed from his post in April, after spending nearly nine years building CMB into China’s top retail bank.