Securities regulator laid 42 charges in 6 months to end-September this year, up 180% from same period in 2016, but commenced far fewer investigations.
SFC says Northbound scheme will be followed by Southbound investor identification, eventually spread to all SEHK investors.
Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.
Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.
Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.
A Bangladesh Institute of Bank Management survey has found that bank officials are directly involved in 67 per cent of online banking forgeries in collusion with IT firms.
The Bankers Association of the Philippines has launched a digitisation initiative to facilitate customer identity management and verification through blockchain technology.
Group led initially by AUSTRAC and Philippines Anti-Money Laundering Council aims to disrupt sources of funding, movement and use of funds.
Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.
Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.