All posts tagged "SVF"
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626AML / KYCHong Kong Publishes ML/TF Risk Assessment Report
The most prominent ML threats to banks come from fraud, corruption and tax crimes. The main ML threats to the crypto sector relate to fraud and theft.
July 12, 2022 -
462FeatureHKMA Issues Additional Guidance for SVF Licensees
New practice note offers guidance on governance, outsourcing, internal controls, technology risk, and business conduct, among other areas.
March 28, 2022 -
725AML / KYCHKMA Fines Prepaid Card Issuer 33FS for AML/CTF Deficiencies
The case involved control deficiencies in respect of 33 Financial Services Limited's transaction monitoring and name screening systems, the HKMA said.
January 17, 2022 -
588AML / KYC
HKMA Fines ePaylinks Technology for AML/CTF Breaches
SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.
December 21, 2021 -
543AML / KYC
HKMA Identifies AML/CFT Gaps in Stored Value Facilities
The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.
September 28, 2021 -
265Fintech / RegtechTaiwan to Enable Interoperability Between E-payment Providers
Amendments due to take effect from 1 July will enable users of e-payment services and stored-value facilities to transfer money across platforms.
May 28, 2021 -
1.7KAustralia & NZAPRA Grants TransferWise Licence to Directly Access NPP
Access to Australia's real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
December 1, 2020 -
948AML / KYCHKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings
Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.
December 17, 2019 -
1.2KAML / KYC
HKMA Offers Guidance in Response to FATF Report
Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.
September 6, 2019 -
1.6KAML / KYC
HKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment
While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.
July 22, 2019
