Anti-Financial Crime & Financial Crime Compliance
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    • Regulatory Watch News

    • FCA partners with Singapore to drive growth and AI innovation

      Financial Conduct Authority

      The FCA is strengthening its international footprint with a strategic partnership on artificial intelligence (AI) with the Monetary Authority of Singapore (MAS) and will establish a new presence in the country.
      Announced at the Singapore Fintech Festival, the new partnership will support safe and responsible AI innovation. This will enable innovative firms in the UK and Singapore to scale and operate across markets more effectively. For the first time, the FCA will also establish a presence in Singapore with the appointment of an FCA Financial Services Attaché based at the British High Commission. This forms part of a wider plan to establish a presence other priority markets next year.

    • Treasury Sanctions Burma Armed Group and Companies Linked to Organized Crime Targeting Americans

      OFAC

      WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the Democratic Karen Benevolent Army (DKBA), a Burmese armed group, along with four of its senior leaders, for supporting cyber scam centers in Burma that target Americans using fraudulent investment schemes.  OFAC is also designating Trans Asia International Holding Group Thailand Company Limited (Trans Asia), Troth Star Company Limited (Troth Star), and Thai national Chamu Sawang, who are linked to Chinese organized crime and have worked with the DKBA and other armed groups to develop these scam centers.  The revenue generated by scam center workers—who are often themselves victims of human trafficking—supports organized crime and allows the DKBA to finance its harmful activities.

    • Scam alert related to banks

      HKMA

      The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA.  Hyperlinks to the press releases are available on the HKMA website.  

             Bank        Type of Scam
      The Bank of East Asia, Limited Fraudulent websites and internet banking login screens
      Shanghai Commercial Bank Limited Fraudulent websites and internet banking login screens
      Chong Hing Bank Limited Fraudulent websites and internet banking login screens
      Bank Julius Baer & Co. Ltd. Fraudulent website
       

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