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PEPs & Sanctions
US Treasury Defers Investment Ban on Some Chinese Companies
By Editors | 28/01/2021
A general licence delays the application of restrictions on companies with names that closely match those of the blacklisted companies.
Conduct, Culture & Accountability
HKMA Suspends Banker Over Photocopied Client Signature
By Editors | 28/01/2021
The banker photocopied a client’s signature onto an instruction form and used it to apply for the issuance of a bank reference letter.
Anti-Money Laundering
AUSTRAC Consults on AML/CTF Rules for Phase 1.5 Reforms
By Editors | 28/01/2021
The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.
Anti-Bribery & Corruption
China’s Corruption Watchdog Punishes Former Bank Regulators
By Editors | 27/01/2021
Three former banking regulators were expelled from the CCP and referred for criminal prosecution for accepting bribes and contributing to Baoshang Bank’s failure, among other violations.
Trade Based Money Laundering
Fighting TBML to Sustain a Post-pandemic Recovery in APAC
By Claus Christensen | 27/01/2021
As we inaugurate the next phase of international trade, the FATF is pushing trade-based money laundering to the top of the international community’s agenda, says Claus Christensen at Know Your Customer.
Anti-Money Laundering
Australian Police Arrest Dutch National on Money Mule Charges
By Editors | 27/01/2021
The 22-year-old was used to receive funds stolen from Australian bank accounts by a cybercrime syndicate before he transferred it overseas with Bitcoin.
Anti-Bribery & Corruption
Five HK Bankers Charged for Misusing Customer Data to Sell Loans
By Editors | 27/01/2021
Former DBS staffers accepted illegal commissions to obtain confidential customer data for use by sales staff in promoting personal loan business.
Market Abuse
Taiwan to Punish Foreign Banks for Facilitating Currency Speculation
By Editors | 26/01/2021
The banks helped grains merchants trade in deliverable FX forwards in contravention of foreign exchange regulations.
PEPs & Sanctions
Index Providers to Remove More Chinese Firms from Indexes
By Editors | 26/01/2021
MSCI and FTSE Russell say they will remove five more Chinese companies from their global indexes in the absence of further OFAC guidance.
Supervision & Enforcement
Korea FSS to Order Banks to Compensate Lime Fund Investors
By Editors | 25/01/2021
Woori Bank, Busan Bank and Industrial Bank of Korea have reportedly agreed to pay restitution to investors based on estimated damages.
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