Hong Kong

AML / KYC

HK Police Force Hosts First-ever Cyber Policing Symposium

By Editors | 20/09/2023

Hong Kong and Mainland officials called for greater cross-border cooperation between law enforcement agencies to deal with cybercrime threats.

Enforcement

Hong Kong Police Arrest Eight in JPEX Crypto Fraud Case

By Manesh Samtani | 19/09/2023

Police said complaints have been received from 1,641 investors reporting HKD 1.2 billion in losses, making it the single largest fraud case in Hong Kong’s history.

Cayman Islands to Open First Asia Office in Singapore

By Editors | 19/09/2023

The Cayman Islands government said the new office will help it pursue business opportunities in Asia and build strategic relationships including in Hong Kong.

Enforcement

SFC Imposes Seven Month Ban on Former Taiping Securities RO

By Editors | 19/09/2023

The former responsible officer logged into clients’ internet trading accounts to place orders for them, and failed to maintain proper records of the order instructions.

Fintech / Regtech

Hong Kong Launches Open API Framework for Insurance Sector

By Editors | 19/09/2023

A Central Register has also been developed as a new digital infrastructure for API-related initiatives in the insurance industry.

Enforcement

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

By Editors | 19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

Crypto / Digital Assets

HKMA, SFC Warn of Illegal Offerings by Crypto Firms

By Sanday Chongo Kabange | 18/09/2023

The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.

Fintech / Regtech

SFC to Commence Review of Industry Cybersecurity Practices

By Manesh Samtani | 18/09/2023

Commencing this month, the review will entail a survey of licensed corporations as well as meetings and on-site inspections with selected firms.

Crypto / Digital Assets

HKMA, Central Banks to Beta Test CBDC Interoperability Solution

By Editors | 14/09/2023

New use cases for the solution, developed by Swift, are also being tested in a new sandbox environment by the RBA, BOT, CLS and other institutions.