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MONEY LAUNDERING AND TERRORIST FINANCING RISKS FACING HONG KONG’S FINANCIAL INSTITUTIONS AND PAYMENT SYSTEMS
The Hong Kong government has published a report detailing the money laundering (ML) and terrorist financing (TF) risk assessment of Hong Kong. This …
UNITED STATES ANNOUNCES COMPLETE WITHDRAWAL FROM THE JCPOA, AND PROVIDES WINDING-DOWN PERIOD BEFORE SANCTIONS RE-IMPOSITION
On May 8, 2018, President Trump announced that the United States will completely withdraw from the Joint Comprehensive Plan of Action (the "JCPOA"). The …
Corporate Crime update - April 2018
Welcome to the April 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, …
TRANSPARENCY INTERNATIONAL PUBLISHES CPI 2017
In late February, Transparency International ("TI") published the 2017 Corruption Perceptions Index ("CPI"). This is the 23rd annual edition of the CPI, …
HKMA CONDUCTS THEMATIC REVIEW OF AUTHORISED INSTITUTIONS’ SANCTIONS SCREENING SYSTEMS AND PLANS REVIEW OF SVF LICENSEES
Late last week, the HKMA published a circular to provide feedback to authorised institutions (AIs) on its thematic review of their sanctions screening …
US ANNOUNCES NEW RUSSIA SANCTIONS DESIGNATIONS, RELEASES NEW GUIDANCE
On April 6, 2018, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") announced new designations of seven high-net-worth …
Corporate Crime update - March 2018
Welcome to the March 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, …
INSPIRED BY THE UK REGIME, SINGAPORE INTRODUCES DEFERRED PROSECUTION AGREEMENTS FOR CORRUPTION AND MONEY LAUNDERING OFFENCES
The Singapore parliament has enacted a framework for Deferred Prosecution Agreements. This will apply to corporate offences including corruption, money …
US IMPOSES SANCTIONS TARGETING DIGITAL CURRENCIES ISSUED BY THE VENEZUELAN GOVERNMENT AND DESIGNATES MORE VENEZUELAN OFFICIALS
On March 19, 2018, President Trump issued an executive order that aims to curb sanctions circumvention by the Maduro regime in Venezuela through …
Corporate Crime update - February 2018
Welcome to the February 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, …
Unexplained Wealth Orders: How might this new investigative tool affect you?
From 31 January 2018, UK authorities can use new and expansive investigative powers to require both individuals and corporate bodies to provide …
HONG KONG ENHANCES ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING REQUIREMENTS FOR NON-FINANCIAL INSTITUTIONS
From 1 March 2018, a number of Hong Kong businesses and professions will be subject to enhanced customer due diligence and record-keeping obligations in …
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