AML / KYC

AML / KYC

Mitigating Illicit Convergence in Transnational Financial Crime

By Editors | 27/04/2021

Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.

AML / KYC

HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML

By Manesh Samtani | 26/04/2021

The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.

AML / KYC

Hong Kong: Six Arrested for Laundering HK$2.5bn

By Sanday Chongo Kabange | 26/04/2021

The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.

AML / KYC

Final Phase of Meng Extradition Case to Be Delayed

By Sanday Chongo Kabange | 25/04/2021

The final phase of the extradition case is being delayed to allow Meng’s lawyers to examine documents being provided by HSBC as a result of a Hong Kong court ruling.

AML / KYC

BSP Renews Push for Changes to Bank Secrecy Law

By Editors | 23/04/2021

BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.

AML / KYC

SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

By Editors | 23/04/2021

The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.

AML / KYC

BaFin Files Criminal Complaint Against Deutsche Bank Exec

By Manesh Samtani | 23/04/2021

Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.

AML / KYC

Philippines: PhilSys National ID System Draws 28m Registrations

By Editors | 22/04/2021

The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.

AML / KYC

ABN Amro to Settle Dutch AML Probe for €480m

By Manesh Samtani | 22/04/2021

ABN Amro conducted inadequate client due diligence, assigned risk classifications in an incorrect manner, and fell short in alert processing, among other failures.