Category Archive for: ‘AML/CTF’

Hand Painting

Picasso, diamonds and gambling – where are things up to on the 1MDB scandal?

1Malyasia Development Berhad (“1MDB”) has made international headlines again with international celebrities continuing to be embroiled in the scandal. We …

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Gaming Floor

Large financial penalties spread to the Antipodes – global trends in AML/CTF enforcement

Multi-million (and billion) dollar fines for AML/CTF breaches are no longer the preserve of United States and United Kingdom. In …

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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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Momentum building: SFC AML/CTF action provides practical guidance for securities firms

We are now starting to see signs of momentum building on AML/CTF enforcement cases in Hong Kong.   With it, there …

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10 months on, Panama Papers heat up again with senior lawyers arrested

The founders of Mossack Fonesca, the law firm at the centre of the Panama Papers scandal, have been arrested. The …

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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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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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New Hong Kong stored value facilities regime – the countdown begins to the next wave of fintech regulation

The long-awaited regime for virtual stored value facilities now has a deadline.   The new regime will significantly enhance Hong Kong’s …

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