AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.
Top official says updated ID cards with greater security could be used as basis of the centralised KYC; boost Hong Kong's status in fintech.
Despite earlier talk of blanket ban, panel set up in April close to agreeing model which would give bitcoin similar status to a commodity.
Fraud, money laundering more prevalent than even insider trading or market manipulation, Centre suggests; only 40% of market participants filed suspicious matter reports over 2-year period.
Former wealth manager at shuttered Singapore office of Swiss bank BSI to serve further two years for money laundering after witness tampering sentence ends.
Regulator concerned rules introduced last October are not being executed consistently as regional and other smaller banks deal with increasing number of international transactions.