AML / KYC

The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.

Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.

AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.

Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.

The leaked information included card numbers, expiration dates and the three-digit security code on the back of cards. About 410,000 of the leaked cards are still active.

The FSC supports the development of innovative authentication mechanisms that can provide convenience, safety and security in electronic financial transactions.

Singapore’s legislated threshold for cash transactions that are subject to due diligence is higher than the $3,000 threshold set by the FATF.

Nick Turner at Steptoe & Johnson discusses how sanctions could be imposed against Hong Kong. While current signs point to a limited US response, it’s best to be prepared.

The new unit will seek to support cooperation among EU law enforcement authorities, step up financial investigations, and cut off organised crime groups from their funding.

The GCFCC's members include the Atlantic Council, Crime Stoppers International, EBF, Europol, FFIS, Freedom Seal, GFI, IIF, MENA FCCG, Rani’s Voice, Refinitiv, RUSI, and World Economic Forum.