Casino and gaming operator fined more than $34mn for a series of AML/CTF failures; AUSTRAC stresses management responsibility.
ANZ and NAB will pay a total of $76mn for attempting to manipulate Bank Bill Swap Rate; Westpac Banking still fighting claims.
Developers to conduct due diligence checks on sources of funding, buyers must use their own accounts to make property purchases in AML drive.
Report suggests AI and machine learning could create new systemically important players, warns on opacity, audit difficulty.
HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.
Individuals banned for six years after conviction for 1MDB-related bribe; former representative of BSI Bank faces lifetime ban.
Move is part of President Moon Jae-in’s Chaebol clean-up campaign, follows proposal to make agencies liable for ‘defective ratings’.
Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.
Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.