More than 80 percent of banks have already implemented a 24/7 dedicated complaint hotline for customers to report incidents or suspicions of fraud.
December 16, 2022Wells Fargo Advisors was fined for failing to timely file 34 SARs. This is the second BSA action against the firm in the last five years.
May 24, 2022The government will issue a consultation this year proposing a licensing or registration requirement for crowdfunding platforms in Hong Kong.
April 20, 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, 2022Financial institutions worldwide are urged to adopt the toolkit; share it with colleagues, peers and industry partners; and take action to stamp out IWT.
March 4, 2022New measures include expanding the use of biometric technology, strengthening fraud surveillance and detection algorithms, and enabling customers to trigger account freezes.
February 18, 2022MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.
February 10, 2022The financial crime guide helps financial firms identify the misuse of emergency and disaster payments administered through Services Australia.
December 13, 2021The FSA reportedly seeks to propose legislation to only allow banks and wire transfer companies to issue stablecoins, and to regulate wallet providers.
December 10, 2021The Korea Customs Service will establish mechanisms targeting the sources of funds used by foreign residents for domestic real estate purchases.
November 18, 2021