ChinaThe Chinese government issued new rules on counteracting unjustified extra-territorial application of foreign legislation and other measures in order to avoid adverse effects on Chinese companies and safeguard national interests.
The People’s Bank of China announced that it organized and drafted revisions to a 2014 rule, Measures for the Supervision and Administration of Financial Institutions’ Anti-Money Laundering and Anti-Terrorist Financing.
Cryptocurrency industry slams U.S. plan to broaden reporting requirements, China AML-related fines tripled in 2020, and more, in the midweek roundup.
Weekly Roundup: House Revives AML Bill After Veto, FDIC Fines Compliance Officer, and More
Saudi lender settles U.S. sanctions violations, FinCEN flags scams against COVID-19 vaccines, and more, in the weekly roundup.
The Securities and Futures Commission issued a disciplinary action against the Hong Kong-based subsidiary of The Goldman Sachs Group, Inc., requiring it to pay a $350 million fine for serious supervisory, risk, compliance and anti-money laundering controls deficiencies.
The Hong Kong Securities and Futures Commission issued an order banning Joanna Chu Lai Wa, former director and responsible officer of Shenzhen, China-based Guosen Securities (HK) Brokerage Company, Limited for her failure to implement adequate AML/CTF controls.
| Technical | Effectiveness |
|---|---|
| Compliant : 7 | High : 0 |
| Largely Compliant : 18 | Substantial : 3 |
| Partially Compliant : 9 | Moderate : 4 |
| Non-Compliant : 6 | Low : 4 |
Pakistan's technical compliance was re-rated in a Oct. 1, 2020 follow-up report
| Rank : 18/141 |
| Score : 6.76/10 |
| Rank : 80/180 |
| Score : 41/100 |
| Rank : 25/133 |
| Score : 60/100 |