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NEWS: Hong Kong ranked as worst for AML effectiveness, Italy the best – report

Premium October 29, 2024

PHOTO: File photo shows general night view of Hong Kong skyline across the Victoria Harbour from West Kowloon.

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NEWS: Singapore unveils new National AML Strategy, pledges to ‘strictly’ oversee cross-border transactions

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NEWS: Leading Irish entrepreneur John Purdy joins the board of ID-Pal

NEWS: Former Latvian bank owner jailed for ordering whistleblower’s murder

BY PAUL O’DONOGHUE, Senior Correspondent

Hong Kong has been ranked bottom of 35 jurisdictions based on their effectiveness in financial crime compliance, a new report has said.

The study from fast-growing UK-based firm Napier AI assessed the AML effectiveness of many of the world’s leading economies.

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Premium

NEWS: Singapore unveils new National AML Strategy, pledges to ‘strictly’ oversee cross-border transactions

 Premium

NEWS: Leading Irish entrepreneur John Purdy joins the board of ID-Pal

NEWS: Former Latvian bank owner jailed for ordering whistleblower’s murder

Regulatory Watch News

  • Bogus Cryptocurrency Platform- Paragonix Earn

    Isle of Man Financial Services Authority

    The Authority has become aware of the websites listed above that are promoting the cryptocurrency trading scam Paragonix Earn. The websites purport to represent the business Paragonix Earn and are promoting its use on the Isle of Man. The address quoted on the website is a PO Box address in Douglas, Isle of Man, as far as we can ascertain they are not known to anyone genuinely associated to that address. The Authority wishes to draw attention to the following observations: The Authority has failed to establish any association between the websites and any genuine Isle of Man companies or businesses. As far as we can ascertain the websites nor those behind them are not known to anyone genuinely associated with the aforementioned Isle of Man PO Box address.

  • Italy: Investigation into €1 million embezzlement fraud involving social funds – EPPO seizes two properties

    European Public Prosecutor's Office

    (Luxembourg, 30 October 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Milan (Italy), the Italian Financial Police (Guardia di Finanza) has seized two properties in an investigation into the embezzlement of €1 million in EU and national funds, involving a vocational training institute.

  • Second Sydney man charged with allegedly trafficking a child as part of organised crime syndicate

    Australia Federal Police

    The AFP has charged a Sydney man with the alleged domestic trafficking of children, following a complex AFP-led human trafficking investigation in Australia and Indonesia. The man, 30, appeared before Manly Local Court today (30 October, 2024) after he was arrested at Manly yesterday and charged with the domestic trafficking of children and possession of child abuse material. The AFP will allege the man was a senior member of an organised crime syndicate which profited from trafficking women and children from Indonesia to Australia to be sex workers.

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