In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.
The chairman of Bangladesh’s securities regulator is alleged to have approved IPOs for companies that falsified their financial statements to show higher profitability.
Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.
Supported by the MAS and Singapore's major banks, the project seeks to help wealth managers address money laundering risks with new AI and machine learning capabilities.
Eric A. Sohn at Dow Jones Risk & Compliance discusses the US’ ability to restrict a firm’s access to correspondent banking services and its financial markets.
The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.
While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.
The current and former directors each face 1MDB-related charges carrying a maximum 10-year jail term and a minimum penalty of 1 million ringgit.
AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.
The report says North Korea has amassed $2bn from cyberattacks on banks and crypto exchanges, and that it has about 30 overseas representatives helping it evade sanctions.