The PBOC has responded to concerns about incoming rules that will require banks to perform extra due diligence for deposits and withdrawals exceeding CNY 50,000.
February 14, 2022Nathan Newman says regulated entities are uplifting their AML capabilities but could do more to apply appropriate assurance to their upgrades.
February 11, 2022An increased use of stablecoins constitutes "one of the greatest points of vulnerability of the DeFi market" and a potential channel of risk transmission to the traditional financial markets.
January 22, 2022Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.
January 21, 2022The case involved control deficiencies in respect of 33 Financial Services Limited's transaction monitoring and name screening systems, the HKMA said.
January 17, 2022High-value debt listed entities must submit reports on their related party transactions to stock exchanges every six months.
January 13, 2022Outsourced CDD does not exist in isolation from reporting entities' wider CDD procedures and obligations, the DIA and FMA said.
December 20, 2021Listed companies will have to submit information on related-party transactions to stock exchanges every six months and secure shareholder approval.
November 25, 2021ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.
November 22, 2021Ample 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