The 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, 2021Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.
January 7, 2021The amendments will bring precious metals dealers, casinos and real estate brokers and developers into scope under the Anti-Money Laundering Act.
November 27, 2020The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.
October 27, 2020The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.
October 27, 2020According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.
October 21, 2020The probe is related to Crown's use of casino junkets to bring wealthy gamblers to its Melbourne casinos and possible non-compliance with due diligence and AML requirements.
October 21, 2020If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.
September 24, 2020Philrem and Werquick used local banks to wire funds for unidentified customers without identifying source of funds, the true beneficiary, or the purpose of the transactions.
September 24, 2020Among the potentially suspicious transactions were more than $174mn of possibly illicit funds that flowed through Australian banks.
September 22, 2020