Archives for: ‘Asia Pacific’

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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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Future-proofing FinTech: last words from the Obama administration, with global reach

Ahead of the changing of the guard, the White House chose financial technology (FinTech) as the subject of one of …

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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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Australia introduces “false accounting” offences

As part of its efforts to strengthen its anti-bribery and corruption enforcement framework and comply with international obligations, the Australian …

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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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UK Modern Slavery Act – seven things businesses in Asia need to know

The UK Modern Slavery Act (“MSA”) is now in force.  Given its broad territorial reach, the MSA is likely to affect …

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SFC suspensions put new communication technologies under the spotlight

Two recent disciplinary actions taken by Hong Kong’s Securities and Futures Commission (“SFC”) emphasise the importance of effective employee monitoring …

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