Category Archive for: ‘AML/CTF’

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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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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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FIFA scandal – lessons for Hong Kong financial institutions

The 2015 FIFA scandal and associated arrests and downfall of key FIFA officials, are not only sporting issues. They highlight …

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Getting to know your customer: new anti-money laundering know your customer and customer due diligence rules

Amendments to the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (AML Rules) imposing new know your customer …

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