KYC & CDD

Fraud, Scams & Cybercrime

China’s NFRA Warns Consumers of Fake Financial Regulator Scams

By Mark Johnston | 13/07/2023

NFRA has issued a risk alert to inform consumers of various fraudulent schemes involving impersonation of financial regulators and their staff.

KYC & CDD

MAS, Cambodia Ink MOU for Financial Transparency Corridor

By Karen Ng | 12/07/2023

The MOU aims to to enhance financial transparency and promote trade and cross-border financial services for small and medium enterprises (SMEs).

PEPs & Sanctions

US Treasury Asks Hong Kong FIs to Help Prevent Export Control Evasion

By Editors | 11/07/2023

Treasury officials reportedly asked banks to help identify certain high-tech items being shipped to Russia via Hong Kong.

Structural Regulation

Australia Launches New Foreign Ownership Register

By Editors | 06/07/2023

Investors need to notify the new Register within 30 days after they acquire or dispose of an interest or there is a change of at least 5 percent in the interest.

Anti-Money Laundering

MAS Highlights Misuse of Legal Persons through Data Analytics

By Jill Wong | 03/07/2023

The MAS has published a paper to guide banks in using data analytics to detect and prevent the use of front companies to conceal illicit activities.

Anti-Money Laundering

Singapore Gets Tough on Money Laundering through Property

By Karen Ng | 30/06/2023

Lawyers talk to Regulation Asia about the implications of Singapore’s new property AML rules.

Fraud, Scams & Cybercrime

HKMA Launches New Initiative to Prevent Credit Card Fraud

By Editors | 30/06/2023

All of Hong Kong’s card issuing banks, as well as 15 major merchants, commit not sending customers text messages with embedded hyperlinks.

Anti-Money Laundering

NZ Court Fines Tiger Brokers for AML Failures

By Sanday Chongo Kabange | 30/06/2023

Tiger Brokers ordered to pay NZD 900,000 penalty for multiple AML/CFT breaches between April 2019 and January 2020.

KYC & CDD

Australia Commits to Taking Action to Address Debanking

By Sanday Chongo Kabange | 29/06/2023

Treasury will work with APRA and the four major banks to design and scope a voluntary data collection on de-banking.