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NEWS: DBS Bank fined $1.3M by Hong Kong regulator for violating AML regulations

Premium July 5, 2024

FINED: The disciplinary action against DBS comes after an investigation conducted by the Hong Kong Monetary Authority (HKMA), which looked into control failures of DBS Bank (Hong Kong) between April 2012 and April 2019, the regulator said in a statement on Friday.

UPDATED: FATF risks political backlash over poor AML scores for US, China, Australia – accused of ignoring professional enablers

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NEWS: Regulators in Germany, Germany pledge to help banks implement new DORA rules

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INSIGHT: Establishment of Germany’s new AML super agency blocked by ‘political wrangling’ 

THE Hong Kong unit of DBS Group Holdings, Singapore’s biggest lender, was fined HK$10 million ($1.28 million) by Hong Kong’s banking regulator for violating AML regulations. The disciplinary action comes after an investigation conducted by the Hong Kong Monetary Authority (HKMA), which looked into control failures of DBS Bank (Hong Kong) between April 2012 and…

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UPDATED: FATF risks political backlash over poor AML scores for US, China, Australia – accused of ignoring professional enablers

 Premium

NEWS: Regulators in Germany, Germany pledge to help banks implement new DORA rules

 Premium

INSIGHT: Establishment of Germany’s new AML super agency blocked by ‘political wrangling’ 

Regulatory Watch News

  • SPECIALLY DESIGNATED NATIONALS LIST UPDATE

    OFAC

    The following deletions have been made to OFAC's SDN List:

    PANFEROV, Alexey Valeryevich (Cyrillic: ПАНФЕРОВ, Алексей Валерьевич), Russia; DOB 30 Sep 1970; nationality Russia; Gender Male; Secondary sanctions risk: See Section 11 of Executive Order 14024.; Passport 761897623 (Russia) (individual) [RUSSIA-EO14024] (Linked To: SOVCOMBANK OPEN JOINT STOCK COMPANY). TSAREVA, Marina Igorevna, Russia; DOB 09 Nov 1973; POB Krasnoyarsk, Russia; nationality Russia; Gender Female; Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201; Passport 711002398 (Russia) (individual) [CYBER2] (Linked To: DIVETECHNOSERVICES; Linked To: VELA-MARINE LTD.).

  • Singapore FinTech Festival 2024 Returns with Spotlight on Artificial Intelligence and Quantum Technology

    MAS

    Singapore, 8 July 2024... The Singapore FinTech Festival (SFF) 2024 will be back for its 9th edition from 6 to 8 November, preceded by the Insights Forum™ [1] from 4 to 5 November. Attended by over 66,000 participants from 150 countries in 2023, SFF 2024 will offer a distinguished lineup of global central bankers, regulators, industry leaders, entrepreneurs, investors, innovators, and influencers to collaborate and shape the future of the global financial ecosystem through aligning regulation, innovation and technology.

  • Fraudulent website and phishing emails related to China CITIC Bank International Limited

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China CITIC Bank International Limited relating to a fraudulent website and phishing emails, which have been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.

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