Anti-Money Laundering

Anti-Money Laundering

HKMA Fines Local Branch of CA Indosuez for AMLO Breaches

By Sanday Chongo Kabange | 30/11/2023

The HKMA fined CA Indosuez’s Hong Kong branch for failing to continuously monitor business relationships with some clients.

Anti-Money Laundering

APG Report Calls for Stronger AML/CFT Response to Illegal Fishing

By Manesh Samtani | 30/11/2023

Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.

PEPs & Sanctions

OFAC Sanctions Hong Kong, Singapore Companies for Iran Trade

By Editors | 30/11/2023

Sanctions target more than 20 individuals and entities accused of facilitating Iranian defence sector through companies in Hong Kong, Singapore, and elsewhere.

Credit Risk

MAS Spotlights Interest Rate and Money Laundering Risks

By Editors | 29/11/2023

The latest Financial Stability Review discusses the impact of rising global interest rates on households and increased concerns over money laundering.

Anti-Money Laundering

13 FIUs Establish Task Force to Disrupt Terrorist Financing

By Editors | 28/11/2023

The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

Fraud, Scams & Cybercrime

HK Police, Banks Inaugurate New “Anti-Deception Alliance”

By Editors | 27/11/2023

Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.

Supervision & Enforcement

HK AFRC Bans Auditor for Life, Imposes HK$300,000 Fine

By Mark Johnston | 27/11/2023

A CPA has been penalised for falsely signing off 11 audit reports and providing misleading information to the HKICPA.

Anti-Money Laundering

EBA Consults on Travel Rule Guidelines for Funds and Crypto Transfers

By Mark Johnston | 27/11/2023

The EBA plans new guidelines to prevent the misuse of funds and crypto-assets transfers for illicit purposes, aligning with FATF standards.

Anti-Money Laundering

Binance Founder Allowed to Return to UAE Until Sentencing

By Mark Johnston | 24/11/2023

The DOJ has appealed the decision to allow Changpeng Zhao to leave the US until sentencing on 23 February 2024.