Regulators appear set to crank up AML/CTF and sanctions-related work and now have their eye on individuals too. But with the rise of China, regulators will have their work cut out for them.
Singapore may have scrapped the idea of a centralised database to facilitate KYC checks for now but an advisory body in Hong Kong says the government might not even need one.
As a Hong Kong's regulator slaps a HK$5 million fine on a bank that breached money laundering regulations, CT looks at the work being done behind the scenes to improve KYC technology.