All posts tagged "source of funds"
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144EnforcementSFC Penalises IPO Sponsor Over Substandard Due Diligence Work
Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.
October 19, 2021 -
283AML / KYCHKMA Identifies AML/CFT Gaps in Stored Value Facilities
The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.
September 28, 2021 -
442AML / KYC
SFC Finalises AML Guidelines for Securities Sector
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
September 16, 2021 -
239AML / KYCNZ Court Fines CLSA Premium NZ for AML/CFT Breaches
The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.
September 14, 2021 -
123AML / KYCNZ Issues AML/CFT Advisory On Sight Unseen Property Purchases
Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.
July 13, 2021 -
387AML / KYCAUSTRAC Publishes Guidance on Detecting Cuckoo Smurfing
The guidance offers indicators to help financial services firms identify and report suspicious transactions related to cuckoo smurfing.
June 7, 2021 -
786AML / KYCTaiwan FSC Fines Citibank, DBS for AML Violations
The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.
May 14, 2021 -
724AML / KYCMAS Penalises Bank J. Safra Sarasin for SoW/SoF Failures
The bank failed to establish the source of wealth and source of funds of customers and beneficial owners of higher-risk customers, MAS said.
April 15, 2021 -
302Capital RegulationCBIRC Probes Reveal 19,900 Shareholder Violations at Rural Banks
Over 70 percent of the violations have so far been resolved; 281 institutions were fined a total CNY 150 million; 711 shareholders were fined CNY 20.4 million.
March 23, 2021 -
289AML / KYCCSRC Targets ‘Shadow Shareholders’ in New Guidelines
A 36 month lock up period is being introduced for investors who purchase shares in companies within 12 months before their IPO applications.
February 12, 2021
