Executive director Carmen Chu says work is underway to update HKMA's guidance on name screening, transaction monitoring and suspicious transaction reporting.
April 27, 2022The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.
April 26, 2022Financial services businesses are asked to use the indicators in the guides in transaction monitoring to detect potential illicit activity and file SMRs.
April 21, 2022The founding members of the task force are Chainalysis, Elliptic, GDF and Safello, who will together work to support sanctions compliance in the crypto industry.
April 18, 2022FIs should consider building "more holistic" customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.
March 30, 2022The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.
March 16, 2022The new platform is expected to reduce waiting times at police stations and help banks to cancel fraudulent financial transactions more quickly.
March 3, 2022The National Police Agency and financial institutions will jointly establish a new platform that will allow real-time information exchange for use in combatting fraud.
March 1, 2022A fundamental rethink of FCC is needed to move away from tick-box compliance and ensure greater focus on effectiveness and outcomes, says Kelvin Toh.
February 18, 2022Siddhant Sahai says a greater focus on inter-bank relationship monitoring and timely sharing of information are needed to truly address financial crime risks.
February 16, 2022