AML / KYC

AML / KYC

ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case

By Editors | 09/12/2020

The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.

AML / KYC

Philippine SEC Proposes Stronger Rules on Beneficial Ownership

By Editors | 08/12/2020

The SEC is seeking to require the disclosure of beneficial owners, nominators, principals, and nominee arrangements within 10 days from a company’s registration.

AML / KYC

US Sanctions Another 14 Chinese Officials Over Hong Kong

By Editors | 08/12/2020

A Chinese foreign ministry spokesperson said Beijing would take “firm counter-measures against the malicious actions by the US”.

AML / KYC

US Congress Includes Corporate Transparency in Defence Bill

By Editors | 08/12/2020

The legislation will establish reporting requirements on beneficial ownership information, which could effectively end anonymous shell companies in the US.

AML / KYC

Global Coalition to Fight Financial Crime Expands Membership

By Sanday Chongo Kabange | 08/12/2020

Interpol and Western Union are among the five new additions to the GCFFC’s membership, bringing the total count to 18 organisations.

AML / KYC

The Best Weapon to Shut Down the Illegal Wildlife Trade

By Steve Galster | 07/12/2020

Freeland’s Steve Galster discusses new initiatives to stop illegal wildlife traffickers by hitting them where it hurts the most – in their bank accounts – and how financial institutions can help.

AML / KYC

US Designates Four More Companies as Linked to Chinese Military

By Manesh Samtani | 06/12/2020

US investors will be prohibited from buying securities issued by the four companies, which include CNOOC and SMIC, from 1 February 2021.

AML / KYC

SFC Proposes to Introduce HK Investor ID Regime in 2022

By Editors | 06/12/2020

The proposed investor ID regime is expected to be implemented in Q1 of 2022 at the earliest. A separate reporting regime is proposed for OTC securities transactions.

AML / KYC

China Imposes Reciprocal Sanctions Against Four US-Linked Individuals

By Editors | 06/12/2020

Four individuals at US-linked nonprofits are barred from entering China, including Hong Kong and Macau, for having “performed badly” over Hong Kong affairs.