The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.
May 14, 2021The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.
May 11, 2021The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.
April 26, 2021The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.
April 21, 2021Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.
March 18, 2021FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
March 11, 2021MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.
March 5, 2021Real estate developers and brokers, as well as offshore gaming operators and their service providers, have to register with the AMLC’s electronic reporting system by 16 March.
February 27, 2021FIs should ensure they have robust risk management and due diligence frameworks in place to prevent transactions with illegal online gambling operators.
February 11, 2021The case involved Patrice Lescaudron, a French banker who was jailed for defrauding clients in 2018 before committing suicide last year following his early release.
February 10, 2021