Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.
Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.
By mid 2024, BNM and PayNet will also have finished building the new National Fraud Portal, a "smart system" for tracing fund movements and identifying money mules.
Banks maintaining special rupee vostro accounts are permitted to open an additional special current account for exporters.
FATF has revised its Recommendations and published a new report to promote the use of Asset Recovery Inter-Agency Networks, or ARINs.
The FATF adopted amendments to Recommendation 8 and its Interpretive Note and updated its best practices paper on combatting TF abuse of NPOs.
Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.
The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.
Individuals who commit fraud can have their bank accounts and communication services suspended, and their offences included in the national financial credit information base.
The police acted on information from DBS, seizing S$680,000 and arresting five individuals including a 16-year-old.
Loading more posts...
Sorry, no more posts
No more pages to load