Hong Kong

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.

Enforcement

SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe

By Editors | 23/04/2021

Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.

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.

Market Infrastructure

HKMA Directs Banks to Prepare for OpRisk Rule Updates

By Manesh Samtani | 22/04/2021

The HKMA plans to revise its SPM module on Operational Risk Management to incorporate elements of the revised PSMOR issued by the BCBS.

Capital / Liquidity

HKMA Issues Guidance on Govt Guaranteed Personal Loans

By Manesh Samtani | 20/04/2021

Lenders should not take any actions which tighten credit to borrowers on knowledge of their application for PLGS loans.

Enforcement

Former AIA Agent Convicted For Fraud Over Signing Fee

By Editors | 19/04/2021

The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.

ESG / Sustainability

HK Bourse Proposes New Governance, ESG Reporting Standards

By Editors | 19/04/2021

The proposals enhance corporate governance standards in the areas of corporate culture, director independence, diversity, and ESG disclosures and standards.

National Security, Financial Stability are Mutually Dependent: HKMA

By Editors | 18/04/2021

Chief executive Eddie Yue said the HKMA is pursuing initiatives to enhance its use of technology to analyse financial data as part of its efforts in market supervision.