All posts tagged "Money Laundering"
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566AML / KYCHKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment
While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.
July 22, 2019 -
531AML / KYCWhistleblowers Allege SCB Cleared $57bn in Iran Transactions
Whistleblowers reportedly claim that Standard Chartered Bank cleared more transactions in violation of Iran sanctions than the US government had used as its basis for fines issued in April.
July 22, 2019 -
523Asia-PacificPhilippine SEC Consults on Draft Rules for Digital Asset Exchanges
The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.
July 19, 2019 -
448Asia-PacificThailand to Mandate Extra Reporting Rule for Digital Asset Trades
Digital asset exchanges will have to report all trades exceeding 5 million baht to commercial banks, which will then report the transactions to the Thailand's Anti-Money Laundering Office.
July 19, 2019 -
709ChinaHong Kong, China Framework Comparison – Conduct and Culture
Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare China and Hong Kong's regulatory frameworks in relation to culture and conduct.
July 19, 2019 -
489AML / KYCOCBC to Speed Up Police Investigations with Automated Data Retrieval
OCBC Bank and the Singapore Police Force are collaborating on a new project to reduce the amount of time it takes for investigators to access banking information to just 1-2 days.
July 12, 2019 -
759Fintech / RegtechMalaysia to Finalise Regulatory Framework for ICOs by Year-End
A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.
July 6, 2019 -
624AML / KYCGoldman Banker Tim Leissner Banned for Life in Hong Kong
Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.
July 4, 2019 -
1.0KAML / KYCHong Kong Welcomes FATF ‘Overall Compliant’ Result
According to a government statement, Hong Kong was found to be particularly effective in the areas of risk identification, law enforcement, asset recovery, counter-terrorist financing and international co-operation.
July 1, 2019 -
471AML / KYCFATF Finalises AML/CFT Guidance for Service Providers
New guidance for legal, accounting, and trust and company services professionals highlights the importance of identifying and verifying beneficial ownership information through due diligence.
July 1, 2019
