The Hong Kong Monetary Authority (HKMA) said on Tuesday it had ordered the local branch of private bank Coutts & Co Ltd to pay a fine of HK$7 million ($900,800) for breaching anti-money laundering and counter-terrorist rules.
Source: Reuters, 11/04/2017
Evading taxes worth 10 million baht or more, or fraudulently filing for tax refunds of 2 million baht or more through collusion, shall be considered a money-laundering offence, according to a new law taking effect in Thailand.
Source: Bangkok Post, 02/04/2017
The Bangko Sentral ng Pilipinas's Monetary Board has approved amendments to regulations governing anti-money laundering and anti-terrorist financing efforts which include “refinements in the conduct of customer due diligence, more pragmatic definition of ‘official document’ and the use of other reliable, independent source documents, data or information for customer identification and...
Source: Inquirer.net, 18/03/2017
The Bangko Sentral ng Pilipinas (BSP) has directed banks to put in place a system to detect unusual and suspicious accounts as part of the government’s efforts to combat money laundering and terrorist financing.
Source: The Philippine Star, 16/03/2017
A co-operative agreement (CA) has been signed to establish a framework for both the Financial Services Regulatory Authority (FSRA) of ADGM and the Monetary Authority of Singapore to help startups and innovators understand their regulatory regimes.
Source: Computer Weekly, 08/03/2017