AML / KYC

AML / KYC

Canada, Switzerland Sanction More Russians, EU Considers 9th Package

By Manesh Samtani | 19/10/2022

The next round of EU sanctions could include limits on LPG imports, more restrictions against Russian banks, and a ban on the sale of European real estate to Russians.

AML / KYC

HK Regulator Urges Insurers to Cooperate with ICAC Investigations

By Editors | 18/10/2022

The Insurance Authority asks insurance CEOs to promptly respond to requests to produce evidence for corruption investigations.

AML / KYC

IMF Publishes Guide to Beneficial Ownership Transparency

By Editors | 18/10/2022

Despite guidance issued by the FATF over the years, effective implementation of beneficial ownership requirements is still a challenge for many countries, says the IMF’s Bo Li.

AML / KYC

NSW Regulator Imposes Max Penalty on Casino Giant The Star

By Editors | 18/10/2022

Casino giant The Star has been fined A$100mn and had its licence in NSW suspended due to its failure to prevent money laundering at its Sydney casino.

AML / KYC

Japan Cabinet Passes Bill to Strengthen AML System

By Editors | 18/10/2022

Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.

AML / KYC

HSBC Suspends Investment Services for Russian Clients in Hong Kong

By Editors | 18/10/2022

HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.

AML / KYC

Hong Kong Seeks Status as Global Hub for Virtual Assets

By Manesh Samtani | 17/10/2022

A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

AML / KYC

FCA Fines UK Challenger Bank for Weak AML Controls

By Editors | 17/10/2022

Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

AML / KYC

Thailand Creates Working Group to Tackle Social Media Scams

By Editors | 16/10/2022

Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.