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Financial Crime
Anti-Money Laundering
FATF Re-Rates Thailand on Two Recommendations
By Editors | 10/11/2023
Re-ratings were due to legal requirements for FIs and DNFBPs to conduct risk-based CDD and AMLO guidance on risk-based supervision.
Fraud, Scams & Cybercrime
Taiwan Authorities Arrest Two Individuals Linked to JPEX
By Editors | 10/11/2023
Investors in Taiwan have initiated legal action against the allegedly fraudulent crypto exchange, which first came under regulatory scrutiny in Hong Kong.
Fraud, Scams & Cybercrime
US Unit of China’s ICBC Suffers Ransomware Attack
By Editors | 10/11/2023
The attack disrupted some of ICBC’s systems and left some trades in the US Treasury and equity markets unable to settle.
Fraud, Scams & Cybercrime
FATF Calls for Action to Combat Cyber-Enabled Fraud
By Manesh Samtani | 10/11/2023
Cyber-enabled fraud and related money laundering are facilitated by professional enablers, money mules, shell companies, and different types of FIs including VASPs.
Fraud, Scams & Cybercrime
US Prosecutors Secure Guilty Plea from OneCoin Executive
By Mark Johnston | 10/11/2023
Irina Dilkinska was in charge of compliance at OneCoin, a global crypto scam that lured investors with false promises of high returns.
Cloud & Infrastructure
eMPF –The Race to Optimise Operating Models
By Monik Harindran | 09/11/2023
Hong Kong’s eMPF project presents trustees with an opportunity to rethink operating models, says Monik Harindran.
Anti-Bribery & Corruption
Hong Kong ICAC Launches Business Sector Integrity Charter
By Editors | 09/11/2023
The Charter encourages companies to establish Integrity Management Systems, appoint an “Ethics Officer”, and commit to implementing integrity policies.
Structural Regulation
China Regulators Have Upbeat Message for Market Participants
By Editors | 09/11/2023
China will continue opening up its markets and supporting vulnerable parts of the economy. Two new foreign-funded insurance brokerage companies were approved this week.
PEPs & Sanctions
UK Targets Russian Gold and Oil as EU Preps New Sanctions Package
By Editors | 08/11/2023
UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.
Fraud, Scams & Cybercrime
UK FCA Urges Firms to Do More to Combat APP Fraud
By Manesh Samtani | 08/11/2023
Firms are not adequately focused on delivering good outcomes to consumers, supporting victims of fraud, and handling complaints in a timely manner.
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