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Anti-Money Laundering
Risk and Reward: AI Enables Active Financial Crime Risk Assessment
By Daniel Banes | 18/08/2020
Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.
Payments & Settlements
Livi Bank Announces Launch of Virtual Banking Services
By Manesh Samtani | 11/08/2020
Livi Bank, backed by BOCHK, JD Digits and Jardine Matheson, has become the fourth virtual bank to open to the public in Hong Kong.
PEPs & Sanctions
China Imposes Reciprocal Sanctions Against US Officials
By Editors | 10/08/2020
“China has decided to impose sanctions on those individuals who behaved badly on Hong Kong-related issues,” said a spokesperson, without specifying what the sanctions would entail.
Cloud & Infrastructure
InvestHK Announced Fast Track Fintech Development Programme
By Editors | 10/08/2020
Companies from nine key fintech verticals are invited to submit applications by 31 August, for a chance to showcase their solutions to corporates and investors at Hong Kong Fintech Week.
Trading & Investment
HKMA Warns of Risks in Leveraged Investment Products
By Editors | 09/08/2020
Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.
PEPs & Sanctions
US Sanctions 11 Chinese, Hong Kong Officials
By Manesh Samtani | 08/08/2020
The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.
Cybersecurity
HKMA, IA Issue Guidance on Video Distribution of Insurance Products
By Editors | 07/08/2020
Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.
Trading & Investment
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
Credit Risk
HKMA Defers Trade Facility Repayments by a Further 90 Days
By Editors | 05/08/2020
Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.
Payments & Settlements
HKMA, BIS Innovation Lab Seek Solutions in Trade Finance
By Editors | 03/08/2020
Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.
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