AML / KYC

Local reports say Amazon Pay as well as other fintech players are being penalised for delays in migrating to video-based KYC.

Financial losses from crypto-related scams accounted for more than half of the total value lost through technology crime last year, police say.

Rio Tinto paid a former classmate of a Guinean government official for helping it secure mining rights. The consultant later attempted to pay $822,000 to the official.

Guidance is offered to reduce the burden on legitimate private banking customers trying to use banking services in Hong Kong.

China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as "transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.

Of the 37 companies added to the list, 28 are Chinese entities including those involved in advanced technologies and genetic data collection.

Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.

Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.

Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.

Tian Huiyu, who built China Merchants Bank into the nation's top retail bank, faces charges related to abuse of power, insider trading, and leaking internal information.