Category Archive for: ‘AML/CTF’
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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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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