Leissner has agreed to be permanently barred from the securities industry for violating antibribery, internal accounting controls, and books and records provisions of federal securities laws.
Of the 1.89 million offshore accounts identified through information exchanges under the Common Reporting Standard, 80% were located in Asia and Oceania.
The guidelines require banks to develop written policies and procedures to assess and mitigate money laundering risks arising from their trade-related customers and activities.
APRA's investigation will focus on the conduct that led to Westpac's alleged 23 million AML breaches, and whether its senior managers breached the Banking Act, including the BEAR.
BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.
Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.
Enabling corporate groups on the KYC Registry allows them to improve how their KYC data is structured, while freeing up their banking partners from having to chase down documentation.
The BCBS proposes to allocate direct crypto-asset holdings to the banking book, and indirect exposures to the trading book, while prohibiting the use of internal models to calculate market risk.
Big data is rapidly changing how regulators and law enforcement conduct investigations and build cases, say Jeremy Birch, Peter Jones and Kyle Wombolt at Herbert Smith Freehills.
HSBC Switzerland has admitted to conspiring with US taxpayers to evade taxes and helping them to hide more than $1bn in assets from tax authorities.
Loading more posts...
Sorry, no more posts
No more pages to load