AML / KYC

The amendments specify obligations to ensure policies, procedures and internal controls are in place to prevent risks associated with overseas remittances.

Three key parts of HSBC’s automated transaction monitoring systems showed "serious weaknesses" between March 2010 to March 2018.

Outsourced CDD does not exist in isolation from reporting entities' wider CDD procedures and obligations, the DIA and FMA said.

In deciding the disciplinary sanction, the SFC took into account the "extensive period of time" over which the failures occurred.

Trade restrictions have also been imposed on 34 entities for alleged human rights violations and technology use that 'undermines US national security'.

Six senior executives of Hong Kong listed companies were among those arrested, for operating a cross-border pump-and-dump manipulation scheme.

Some 700 customers of BDO Unibank have suffered losses due to a hack. The BSP said it will ensure remedial measures are undertaken.

FinCEN's review of BSA regulations will help it to identify regulations and guidance that are out-dated, redundant, inefficient, or unfit for purpose.

NatWest's accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

Corridor risk assessments will help to simplify AML/CFT and CDD measures in lower-risk remittance transactions.