HK Brokers’ Operations Halted for Allegedly Handling Proceeds of Crime

Hong Kong’s SFC (Securities and Futures Commission) issued a restriction notice on a foreign exchange broker amid concerns money it received could be the proceeds of criminal activity. IDS Forex HK Limited’s sole shareholder, Kim Sunghun, was convicted of illegal fundraising and fraud in Korea and sentenced to 12 years imprisonment on 3 February 2017. […]

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