All posts tagged "STRs"
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665AML / KYCSFC Fines Guosen Securities $1.94mn for AML Breaches
The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.
February 19, 2019 -
710AML / KYCSingapore Toughens Penalties for AML/CTF Offences
Penalties are being raised for AML/CTF offences and failures to file suspicious transaction reports, while Singapore also expands on its arrangements with foreign FIUs.
November 21, 2018 -
1.3KAML / KYCHKMA Outlines Regtech Initiatives – Speech
The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.
September 28, 2018 -
932AML / KYCCombating Financial Crime with Data Analytics – MAS
In the year ahead, the MAS will focus on the use of data analytics as well as boosting industry collaboration in its fight against money laundering and terrorism financing.
July 24, 2018 -
308AML / KYCSFC Updates AML/CFT Guideline as FATF Assessment Looms
Proposals include streamlining of customer onboarding processes and a requirement to implement group-wide AML/CFT systems at overseas branches and subsidiaries.
July 6, 2018 -
266AML / KYCCommonwealth Bank Agrees to A$700m Penalty for AML Breaches
AUSTRAC investigations revealed inadequate AML/CTF risk assessment and controls, leading to failures in monitoring transactions, submitting transaction reports, detecting money laundering.
June 4, 2018 -
286AML / KYC
Singapore Releases AML/CTF Best Practice Papers
MAS-CAD industry partnership on AML/CFT released best practices papers to help financial institutions guard against trade-based money laundering and the misuse of company structures for illicit purposes.
May 17, 2018 -
208AML / KYCMAS Hits Former Credit Suisse Banker with Prohibition Orders
Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.
May 7, 2018 -
390AML / KYCHong Kong Money Laundering – The River Runs Through It
While Hong Kong struggles to reduce and contain money laundering activities at existing financial institutions, the role of cryptocurrencies in undermining compliance and enforcement capabilities is overlooked.
May 7, 2018 -
453AML / KYC
Hong Kong Publishes First AML/CTF Risk Assessment
Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.
May 3, 2018
