Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file "super STRs".
May 9, 2023A key objective of the update is to support greater use of technology to generate targeted alerts and more actionable intelligence, the HKMA said.
February 10, 2023Many of the new questions in the SFC's updated BRMQ focus on AML/CFT practices and brokerage business controls.
December 30, 2022Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.
March 17, 2022Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.
November 2, 2021FIs "must" disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.
October 25, 2021Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.
July 20, 2021Sino-Rich Securities & Futures routinely processed 238 cash deposits and 269 third party transfers without adequate AML/CTF controls in place.
March 16, 2021According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.
October 21, 2020Guotai Junan Securities was fined for regulatory breaches in connection with AML, third party fund transfers, placing activities, and wash trade detection and reporting.
June 22, 2020