Enforcement

    AML / KYC

    HKMA Fines ePaylinks Technology for AML/CTF Breaches

    By Editors | 20/12/2021

    SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.

    Enforcement

    Taiwan FSC to Raise Fines for Securities Investment Trust Businesses

    By Editors | 20/12/2021

    The maximum fine for violations by securities investment trust and securities investment consulting businesses will rise from TWD 3mn to TWD 15mn.

    Enforcement

    Japan SESC Recommends Fine for Insider Trading on Crypto Hack

    By Editors | 20/12/2021

    An individual who learned about the July 2019 theft of cryptocurrency from BITPoint Japan sold shares in its parent before the hack was publicly disclosed.

    AML / KYC

    FCA Fines HSBC Over ‘Prolonged’ AML Deficiencies

    By Manesh Samtani | 19/12/2021

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

    AML / KYC

    SFC Fines Mason Securities for AML Breaches

    By Editors | 17/12/2021

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

    AML / KYC

    Hong Kong, Singapore Authorities Arrest 10 in Joint Operation

    By Manesh Samtani | 16/12/2021

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

    AML / KYC

    UK Court Convicts, Fines NatWest for AML Failings

    By Editors | 15/12/2021

    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.

    Enforcement

    FMA Cancels Financial Advice Provider’s Transitional Licence

    By Editors | 15/12/2021

    This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.

    AML / KYC

    US Treasury Targets Human Trafficking in Updated Action Plan

    By Mark Johnston | 12/12/2021

    Treasury will leverage its AML expertise to augment human trafficking investigations, and develop advisories to alert FIs to potential red flags.

    Enforcement

    ASIC Files Proceedings Against ANZ Over Unpaid Benefits

    By Editors | 10/12/2021

    ANZ and ASIC have filed a statement of agreed facts and admissions with the court and agreed on a proposed penalty of AUD 25 million.

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