Author Archive for: ‘Urszula McCormack’

Buying An SFC Licensed Entity2

Buying an SFC-licensed entity? 5 things you should know

On 2 June 2017, the Securities and Futures Commission (SFC) issued a circular about responsible officers and substantial shareholders (June Circular).  …

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FATF FinTech And RegTech

FATF embraces technology

It’s great to see that the global standard-setter on anti-money laundering and counter-terrorist financing (FATF) is embracing the galloping trend …

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“Secret Payments Utterly Unacceptable”: Australia to criminalise corrupt payments to union officials

This post was written by Natalie Caton. In a further step towards increased transparency and strengthening Australia’s anti-corruption laws and …

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Backing the wrong horse? Samsung executive arrested on alleged corruption and bribery charges

On Friday 17 February, Vice Chairman of Samsung Lee Jae-yong was arrested and detained on corruption and bribery charges. How …

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Bitcoin

Bitcoin is clearly ‘money’, says U.S. judge

A U.S. District Court has recently held bitcoin is “money” or “funds” for the purpose of particular U.S. federal legislation.  …

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“Making Hong Kong great again” – HKMA clarifies AML/CTF expectations to promote financial inclusion and entrepreneurialism

September was a busy month for Hong Kong regulators, with in-tandem efforts to enhance financial inclusion, while emphasising the importance …

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China strengthens action against telecommunications fraud

The past few months have witnessed the rise of a strengthened anti-telecommunication fraud force throughout Mainland China. The efforts are geared …

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When to suspect the proceeds of a crime: Hong Kong’s Court of Final Appeal clarifies the offence of money laundering

The Hong Kong Court of Final Appeal (CFA) has upheld the conviction of tycoon Carson Yeung for money laundering. In …

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Bank shutdown – the new frontier of AML/CTF regulation

The Money Authority of Singapore’s recent announcement that it intends to withdraw BSI Bank Limited’s licence highlights the potentially severe …

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Ship Helm

Combating trade-based money laundering – Hong Kong banks bolster their artillery

The Hong Kong Association of Banks has just issued its much anticipated Guidance Paper on Combating Trade-based Money Laundering (Guidance …

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