AML / KYC

An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.

Insufficient disclosures of corporate clients' beneficiaries by financial institutions was cited as one of Taiwan's shortcomings in the APG's latest report.

The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.

Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.

While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC's risk assessment has rated the sector as medium risk.

Launched on 26 September for northbound trading, the investor identification regime will be introduced for southbound trading by the end of Q1 2019.

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.

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.

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.

ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.