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.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.
Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.